PG&E Co. (NYSE:PCG) Holdings Boosted by Chico Wealth RIA

Chico Wealth RIA boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 20.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,969 shares of the utilities provider’s stock after buying an additional 5,224 shares during the period. PG&E makes up about 0.5% of Chico Wealth RIA’s holdings, making the stock its 17th biggest position. Chico Wealth RIA’s holdings in PG&E were worth $519,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Artemis Investment Management LLP increased its position in PG&E by 6.2% in the 4th quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock worth $137,009,000 after purchasing an additional 446,848 shares during the last quarter. Wells Fargo & Company MN raised its position in 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 valued at $20,493,000 after acquiring an additional 182,279 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PG&E by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock valued at $16,639,000 after acquiring an additional 76,178 shares during the last quarter. Crestline Management LP grew its position in PG&E by 46.6% in the fourth quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after acquiring an additional 183,767 shares in the last quarter. Finally, Dai ichi Life Insurance Company Ltd increased its stake in shares of PG&E by 379.0% during 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 purchasing an additional 60,525 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction on 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 directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The sale was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent analyst reports. Barclays decreased their target price on PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday, June 17th. Mizuho raised their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Citigroup increased their target price on PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, June 14th. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $22.00 in a research report on Monday, June 10th. Finally, The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective on the stock. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.11.

PG&E Trading Down 1.9 %

Shares of PG&E stock traded down $0.33 on Monday, hitting $17.13. 5,662,632 shares of the company’s stock traded hands, compared to its average volume of 14,734,181. PG&E Co. has a one year low of $14.71 and a one year high of $18.95. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. The stock has a market capitalization of $49.32 billion, a PE ratio of 15.39 and a beta of 1.08. The firm’s 50-day moving average price is $17.92 and its two-hundred day moving average price is $17.24.

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

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio (DPR) is 3.57%.

About PG&E

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.