14,460 Shares in PG&E Co. (NYSE:PCG) Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in shares of PG&E Co. (NYSE:PCG) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 14,460 shares of the utilities provider’s stock, valued at approximately $242,000.

Other hedge funds also recently bought and sold shares of the company. Wells Fargo & Company MN increased its position in shares of PG&E by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after acquiring an additional 182,279 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PG&E by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock worth $16,639,000 after purchasing an additional 76,178 shares during the period. Crestline Management LP raised its position in PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock valued at $10,426,000 after purchasing an additional 183,767 shares in the last quarter. Dai ichi Life Insurance Company Ltd lifted its holdings in shares of PG&E by 379.0% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after buying an additional 60,525 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in shares of PG&E in the 1st quarter worth $2,153,000. Institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $22.00 in a report on Monday, June 10th. Citigroup boosted their price target on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. The Goldman Sachs Group initiated coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective on the stock. Mizuho lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, Morgan Stanley lowered their target price on PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average price target of $20.22.

PG&E Stock Down 1.3 %

NYSE:PCG traded down $0.23 during midday trading on Thursday, reaching $18.02. 20,294,141 shares of the stock traded hands, compared to its average volume of 14,438,016. The stock has a market capitalization of $51.88 billion, a PE ratio of 16.09 and a beta of 1.08. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. The business has a 50-day moving average of $17.97 and a two-hundred day moving average of $17.24.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. During the same quarter in the prior year, the business posted $0.29 EPS. The business’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, equities analysts forecast that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date was Friday, June 28th. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 59,000 shares of the company’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.