Choreo LLC Purchases New Stake in PG&E Co. (NYSE:PCG)

Choreo LLC acquired a new position in shares of PG&E Co. (NYSE:PCG) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 19,556 shares of the utilities provider’s stock, valued at approximately $336,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC raised its holdings in shares of PG&E by 3.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 614 shares during the period. Ballentine Partners LLC raised its stake in PG&E by 3.1% during the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after purchasing an additional 666 shares during the period. Parallel Advisors LLC boosted its holdings in PG&E by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 712 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in shares of PG&E by 8.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock valued at $207,000 after buying an additional 917 shares during the period. Finally, UMB Bank n.a. increased its holdings in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $22.00 in a research report on Monday, June 10th. Barclays increased their price target on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Morgan Stanley boosted their price objective on shares of PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Finally, UBS Group boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.45.

Insider Buying and Selling at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.15% of the company’s stock.

PG&E Stock Down 0.7 %

Shares of NYSE PCG opened at $19.86 on Wednesday. The stock has a market cap of $51.94 billion, a PE ratio of 17.73 and a beta of 1.01. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $20.65. The business has a 50-day moving average price of $18.72 and a 200 day moving average price of $17.82. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 EPS. Equities research analysts forecast that PG&E Co. will post 1.35 earnings per share for the current year.

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.