Net Worth Advisory Group Takes $528,000 Position in PG&E Co. (NYSE:PCG)

Net Worth Advisory Group purchased a new position in shares of PG&E Co. (NYSE:PCG) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 26,683 shares of the utilities provider’s stock, valued at approximately $528,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC acquired a new position in shares of PG&E during the second quarter worth approximately $30,000. UMB Bank n.a. grew its stake in 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 acquiring an additional 1,011 shares during the period. Blue Trust Inc. increased its holdings in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of PG&E during the second quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV raised 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 worth $63,000 after purchasing an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares in the company, valued at approximately $350,168.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PCG shares. Barclays increased their target price on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Morgan Stanley boosted their price target 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. Bank of America started coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, UBS Group boosted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Three investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

PG&E Price Performance

Shares of NYSE PCG opened at $20.38 on Friday. The company has a market capitalization of $58.68 billion, a PE ratio of 18.20, a P/E/G ratio of 1.55 and a beta of 1.01. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. PG&E Co. has a twelve month low of $15.59 and a twelve month high of $20.65. The firm has a fifty day simple moving average of $19.55 and a 200 day simple moving average of $18.36.

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

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. PG&E’s dividend payout ratio is currently 3.57%.

PG&E 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.