Cwm LLC Acquires 5,918 Shares of PG&E Co. (NYSE:PCG)

Cwm LLC boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 30.2% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,482 shares of the utilities provider’s stock after acquiring an additional 5,918 shares during the period. Cwm LLC’s holdings in PG&E were worth $427,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCG. Vanguard Group Inc. raised its stake in shares of PG&E by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock valued at $4,329,416,000 after purchasing an additional 21,731,911 shares during the period. Capital International Investors raised its stake in shares of PG&E by 7.1% in the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock valued at $2,093,198,000 after purchasing an additional 7,681,566 shares during the period. Massachusetts Financial Services Co. MA increased its position in shares of PG&E by 1.2% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock valued at $1,523,828,000 after acquiring an additional 993,923 shares during the last quarter. Third Point LLC increased its position in shares of PG&E by 1.8% in the fourth quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock valued at $1,043,216,000 after acquiring an additional 1,000,000 shares during the last quarter. Finally, Blackstone Inc. increased its position in shares of PG&E by 1.0% in the fourth quarter. Blackstone Inc. now owns 48,578,945 shares of the utilities provider’s stock valued at $875,878,000 after acquiring an additional 500,000 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Trading Down 1.0 %

Shares of NYSE:PCG opened at $17.66 on Friday. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95. The stock has a market cap of $50.85 billion, a PE ratio of 15.77 and a beta of 1.19. The business has a 50 day moving average of $17.81 and a 200-day moving average of $17.25. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the previous year, the company posted $0.29 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts forecast that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio is presently 3.57%.

Wall Street Analyst Weigh In

PCG has been the topic of a number of recent research reports. The Goldman Sachs Group initiated coverage on PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $22.00 in a research report on Monday, June 10th. Mizuho lifted their target price on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Morgan Stanley lifted their target price on PG&E from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. Finally, Citigroup boosted their price target on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.22.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction that occurred 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 sale, 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 at this link. Corporate insiders own 0.15% of the company’s stock.

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.