Axxcess Wealth Management LLC Raises Holdings in PG&E Co. (NYSE:PCG)

Axxcess Wealth Management LLC lifted its holdings in shares of PG&E Co. (NYSE:PCG) by 3.5% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 18,217 shares of the utilities provider’s stock after acquiring an additional 614 shares during the period. Axxcess Wealth Management LLC’s holdings in PG&E were worth $305,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Planned Solutions Inc. purchased a new stake in PG&E in the fourth quarter valued at approximately $37,000. Vima LLC purchased a new stake in PG&E in the fourth quarter valued at approximately $41,000. Pacific Capital Wealth Advisors Inc. purchased a new stake in PG&E in the fourth quarter valued at approximately $47,000. Turtle Creek Wealth Advisors LLC purchased a new stake in PG&E in the fourth quarter valued at approximately $54,000. Finally, Tidemark LLC purchased a new stake in PG&E in the fourth quarter valued at approximately $54,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

PG&E Trading Up 0.1 %

Shares of PCG stock opened at $18.03 on Friday. 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 company has a market cap of $51.91 billion, a price-to-earnings ratio of 16.10 and a beta of 1.08. The stock has a 50 day simple moving average of $17.96 and a 200-day simple moving average of $17.24. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.95.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.01. PG&E had a return on equity of 11.91% and a net margin of 10.22%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same period in the prior year, the company posted $0.23 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. On average, equities research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Friday, June 28th. PG&E’s dividend payout ratio is currently 3.57%.

Analysts Set New Price Targets

A number of brokerages recently commented on PCG. Barclays upped their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday, July 22nd. Citigroup boosted their price target on PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Morgan Stanley decreased their price target 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. The Goldman Sachs Group assumed coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

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.