Ballentine Partners LLC Increases Position in PG&E Co. (NYSE:PCG)

Ballentine Partners LLC raised its holdings in PG&E Co. (NYSE:PCG) by 3.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 22,458 shares of the utilities provider’s stock after acquiring an additional 666 shares during the period. Ballentine Partners LLC’s holdings in PG&E were worth $392,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of PCG. Truist Financial Corp lifted its position in PG&E by 3.5% during the fourth quarter. Truist Financial Corp now owns 44,794 shares of the utilities provider’s stock worth $808,000 after buying an additional 1,528 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of PG&E during the 4th quarter worth $183,000. Private Advisor Group LLC acquired a new position in shares of PG&E during the 4th quarter valued at about $231,000. Principal Securities Inc. purchased a new stake in shares of PG&E in the fourth quarter valued at about $249,000. Finally, Dimensional Fund Advisors LP increased its position in PG&E by 9.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 5,940,763 shares of the utilities provider’s stock worth $107,114,000 after purchasing an additional 516,139 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Price Performance

PCG opened at $19.65 on Wednesday. The stock’s 50-day moving average price is $18.41 and its 200 day moving average price is $17.69. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $20.65. The firm has a market cap of $51.39 billion, a price-to-earnings ratio of 17.54 and a beta of 1.01. 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 issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

PCG has been the subject of several analyst reports. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $22.00 in a research note on Monday, June 10th. UBS Group raised their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays upped their price target on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Mizuho raised their price objective on PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Citigroup boosted 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $21.20.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

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.