BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its position in PG&E Co. (NYSE:PCG) by 13.8% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 276,363 shares of the utilities provider’s stock after acquiring an additional 33,467 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in PG&E were worth $2,811,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Deseret Mutual Benefit Administrators purchased a new stake in PG&E in the 2nd quarter worth about $33,000. Captrust Financial Advisors increased its holdings in PG&E by 656.4% in the 1st quarter. Captrust Financial Advisors now owns 6,142 shares of the utilities provider’s stock worth $72,000 after acquiring an additional 5,330 shares during the last quarter. Eaton Vance Management purchased a new stake in PG&E in the 1st quarter worth about $92,000. Guardian Wealth Advisors LLC purchased a new stake in PG&E in the 1st quarter worth about $123,000. Finally, Mercer Global Advisors Inc. ADV purchased a new stake in PG&E in the 1st quarter worth about $151,000. 58.94% of the stock is owned by institutional investors.
Several brokerages recently weighed in on PCG. Zacks Investment Research raised PG&E from a “sell” rating to a “hold” rating and set a $11.00 price objective for the company in a report on Monday, June 21st. Morgan Stanley reduced their target price on PG&E from $14.00 to $10.50 and set an “equal weight” rating for the company in a report on Thursday, September 9th. Barclays reduced their target price on PG&E from $15.00 to $14.00 and set an “equal weight” rating for the company in a report on Tuesday, May 25th. Finally, Royal Bank of Canada raised PG&E from a “sector perform” rating to an “outperform” rating and set a $14.00 target price for the company in a report on Monday, August 16th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $13.50.
Shares of NYSE PCG opened at $9.69 on Friday. PG&E Co. has a 12 month low of $8.24 and a 12 month high of $12.91. The company has a current ratio of 0.66, a quick ratio of 0.63 and a debt-to-equity ratio of 1.65. The firm has a market capitalization of $23.87 billion, a price-to-earnings ratio of 26.19, a PEG ratio of 3.69 and a beta of 1.39. The business has a 50-day moving average of $9.29 and a 200-day moving average of $10.32.
PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 29th. The utilities provider reported $0.27 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). PG&E had a return on equity of 9.22% and a net margin of 4.14%. The business had revenue of $5.22 billion for the quarter, compared to analysts’ expectations of $4.95 billion. During the same period in the previous year, the firm posted $1.03 EPS. On average, analysts predict that PG&E Co. will post 1 earnings per share for the current year.
PG&E Corp. is 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 San Francisco, CA.
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