Frank Rimerman Advisors LLC Raises Stock Holdings in PG&E Co. (NYSE:PCG)

Frank Rimerman Advisors LLC boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 1,312.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 12,711 shares of the utilities provider’s stock after purchasing an additional 11,811 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in PG&E were worth $222,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Rothschild Investment LLC bought a new stake in shares of PG&E in the second quarter worth $30,000. UMB Bank n.a. increased its position in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares during the last quarter. Blue Trust Inc. raised its stake in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Vima LLC bought a new position in shares of PG&E during the fourth quarter worth about $41,000. Finally, Plato Investment Management Ltd acquired a new position in PG&E in the second quarter worth about $44,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PCG shares. Citigroup increased their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Morgan Stanley raised their price objective on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday. Barclays boosted their target price on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, UBS Group boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $21.55.

PG&E Stock Performance

Shares of PCG stock opened at $19.89 on Thursday. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $20.65. 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 $57.27 billion, a price-to-earnings ratio of 17.76, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01. The business has a 50 day simple moving average of $18.95 and a 200 day simple moving average of $17.94.

PG&E (NYSE:PCG) last issued its quarterly 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company earned $0.23 earnings per share. On average, equities research analysts anticipate that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend is Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Insider Activity at PG&E

In other PG&E 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 transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

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.