CX Institutional Takes $209,000 Position in PG&E Co. (NYSE:PCG)

CX Institutional acquired a new stake in PG&E Co. (NYSE:PCG) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 10,342 shares of the utilities provider’s stock, valued at approximately $209,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in shares of PG&E by 1.5% in the 4th quarter. Janney Montgomery Scott LLC now owns 82,112 shares of the utilities provider’s stock valued at $1,657,000 after buying an additional 1,238 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of PG&E by 1.7% in the 4th quarter. Nisa Investment Advisors LLC now owns 317,092 shares of the utilities provider’s stock valued at $6,407,000 after buying an additional 5,320 shares during the period. Ballentine Partners LLC boosted its stake in shares of PG&E by 3.8% in the 4th quarter. Ballentine Partners LLC now owns 25,575 shares of the utilities provider’s stock valued at $516,000 after buying an additional 934 shares during the period. UMB Bank n.a. boosted its stake in shares of PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,506 shares during the period. Finally, Artemis Investment Management LLP boosted its stake in shares of PG&E by 0.9% in the 4th quarter. Artemis Investment Management LLP now owns 4,515,569 shares of the utilities provider’s stock valued at $91,124,000 after buying an additional 39,028 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 1.7 %

NYSE:PCG opened at $16.52 on Monday. The firm has a market cap of $43.19 billion, a P/E ratio of 12.90, a PEG ratio of 1.15 and a beta of 0.98. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The stock’s 50 day simple moving average is $19.55 and its 200-day simple moving average is $19.46. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts anticipate that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.025 dividend. The ex-dividend date was Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. PG&E’s payout ratio is 7.81%.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent research reports. Jefferies Financial Group started coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays cut their target price on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. UBS Group cut their target price on PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Mizuho raised their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets started coverage on PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average price target of $22.64.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.