19,556 Shares in PG&E Co. (NYSE:PCG) Acquired by Choreo LLC

Choreo LLC bought a new position in shares of PG&E Co. (NYSE:PCG) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 19,556 shares of the utilities provider’s stock, valued at approximately $336,000.

Other hedge funds have also bought and sold shares of the company. Rothschild Investment LLC acquired a new position in shares of PG&E in the 2nd quarter valued at $30,000. UMB Bank n.a. increased its holdings in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the period. Vima LLC acquired a new stake in shares of PG&E during the fourth quarter worth about $41,000. Blue Trust Inc. lifted its holdings in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares during the period. Finally, Tidemark LLC purchased a new stake in PG&E in the fourth quarter valued at approximately $54,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of several research reports. Bank of America assumed coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Morgan Stanley boosted their target price on shares of PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. UBS Group increased their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Citigroup raised their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $21.45.

Insider Buying and Selling at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $19.86 on Wednesday. The stock has a market capitalization of $51.94 billion, a P/E ratio of 17.73 and a beta of 1.01. The company’s fifty day moving average price is $18.72 and its 200 day moving average price is $17.82. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $20.65.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 earnings per share. As a group, equities research analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.