Cwm LLC Raises Position in PG&E Co. (NYSE:PCG)

Cwm LLC raised its position in shares of PG&E Co. (NYSE:PCG) by 71.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 66,971 shares of the utilities provider’s stock after acquiring an additional 27,965 shares during the quarter. Cwm LLC’s holdings in PG&E were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the company. Rothschild Investment LLC purchased a new position in PG&E in the 2nd quarter valued at approximately $30,000. UMB Bank n.a. lifted its holdings in PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its stake in PG&E by 77.0% in the 2nd 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. Plato Investment Management Ltd purchased a new position in PG&E during the 2nd quarter valued at about $44,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,179 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PCG has been the subject of several recent analyst reports. UBS Group boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Barclays increased their price objective on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group began coverage on PG&E in a report on Monday. They issued a “buy” rating and a $24.00 price target on the stock. Three analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average target price of $22.00.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

PG&E Price Performance

PCG opened at $20.52 on Thursday. The stock has a market capitalization of $59.08 billion, a P/E ratio of 18.32, a PEG ratio of 1.50 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. PG&E Co. has a 12-month low of $15.59 and a 12-month high of $20.65. The stock has a 50-day moving average price of $19.46 and a 200-day moving average price of $18.31.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. PG&E’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 earnings per share. Equities analysts predict that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s payout ratio is presently 3.57%.

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.