Commonwealth Equity Services LLC Has $657,000 Holdings in PG&E Co. (NYSE:PCG)

Commonwealth Equity Services LLC lowered its position in shares of PG&E Co. (NYSE:PCG) by 2.1% in the second quarter, HoldingsChannel reports. The fund owned 37,602 shares of the utilities provider’s stock after selling 795 shares during the period. Commonwealth Equity Services LLC’s holdings in PG&E were worth $657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rothschild Investment LLC bought a new position in PG&E in the 2nd quarter valued at about $30,000. Hantz Financial Services Inc. bought a new stake in PG&E in the second quarter valued at $690,000. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of PG&E by 5.7% during the second quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 208,611 shares of the utilities provider’s stock valued at $3,642,000 after buying an additional 11,252 shares during the last quarter. Ausbil Investment Management Ltd purchased a new position in PG&E during the second quarter worth about $5,640,000. Finally, iA Global Asset Management Inc. purchased a new position in PG&E during the second quarter worth about $537,000. 78.56% of the stock is owned by institutional investors.

Insider Transactions at PG&E

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

PG&E Stock Performance

Shares of PCG opened at $19.59 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The firm has a market capitalization of $51.23 billion, a P/E ratio of 17.49 and a beta of 1.01. The business has a fifty day moving average of $18.78 and a 200 day moving average of $17.84. PG&E Co. has a one year low of $14.71 and a one year high of $20.65.

PG&E (NYSE:PCG) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company 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 firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.23 EPS. As a group, sell-side analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

Analyst Ratings Changes

PCG has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their target price on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. UBS Group upped their price objective 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. Citigroup increased their price target on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Barclays upped their price objective on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, Morgan Stanley increased their price target on shares of PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $21.45.

PG&E 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.