PG&E Co. (NYSE:PCG) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 33,083 shares of the utilities provider’s stock after selling 983 shares during the quarter. Wallace Advisory Group LLC’s holdings in PG&E were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in PG&E in the second quarter valued at $30,000. UMB Bank n.a. lifted its holdings in PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. boosted its position in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares in the last quarter. Vima LLC acquired a new stake in shares of PG&E during the 4th quarter worth approximately $41,000. Finally, Plato Investment Management Ltd acquired a new position in shares of PG&E in the 2nd quarter valued at $44,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup lifted their price objective on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. UBS Group lifted 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. Finally, JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $22.00 in a research report on Monday, June 10th. Three 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.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.55.

PG&E Trading Up 1.1 %

NYSE PCG traded up $0.22 on Friday, reaching $19.71. 11,552,210 shares of the company were exchanged, compared to its average volume of 14,329,122. PG&E Co. has a fifty-two week low of $14.87 and a fifty-two week high of $20.65. The stock has a market capitalization of $56.75 billion, a P/E ratio of 17.60, a price-to-earnings-growth ratio of 1.52 and a beta of 1.01. The business’s fifty day moving average price is $19.19 and its 200 day moving average price is $18.10. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the firm posted $0.23 earnings per share. PG&E’s quarterly revenue was up 13.2% on a year-over-year basis. Analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

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

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.