Angeles Wealth Management LLC Takes Position in PG&E Co. (NYSE:PCG)

Angeles Wealth Management LLC bought a new position in shares of PG&E Co. (NYSE:PCG) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 18,637 shares of the utilities provider’s stock, valued at approximately $376,000.

Other institutional investors have also made changes to their positions in the company. FMR LLC lifted its position in shares of PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. State Street Corp raised its position in PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after acquiring an additional 2,936,763 shares during the period. Geode Capital Management LLC increased its position in PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares during the period. Finally, Wellington Management Group LLP raised its holdings in PG&E by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after purchasing an additional 1,822,835 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Trading Up 1.9 %

NYSE PCG opened at $15.61 on Tuesday. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. 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 has a 50 day moving average of $18.41 and a 200-day moving average of $19.29. The company has a market cap of $40.81 billion, a PE ratio of 12.19, a PEG ratio of 1.09 and a beta of 0.99.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. BMO Capital Markets began coverage on shares of PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. Barclays decreased their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. UBS Group dropped their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average price target of $22.36.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

PG&E Profile

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.