Xponance Inc. Trims Stock Position in PG&E Co. (NYSE:PCG)

Xponance Inc. decreased its position in PG&E Co. (NYSE:PCG) by 16.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 413,754 shares of the utilities provider’s stock after selling 80,868 shares during the period. Xponance Inc.’s holdings in PG&E were worth $7,224,000 as of its most recent SEC filing.

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

Analysts Set New Price Targets

Several brokerages have recently commented on PCG. UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays raised their price target on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley boosted their price objective on PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Wells Fargo & Company raised their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, Bank of America initiated coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.45.

Insiders Place Their Bets

In related news, VP Stephanie N. Williams sold 38,601 shares of PG&E 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 sale, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is owned by corporate insiders.

PG&E Trading Down 0.2 %

NYSE PCG opened at $20.03 on Tuesday. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $20.65. The firm has a 50 day moving average of $18.87 and a two-hundred day moving average of $17.91. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $57.67 billion, a PE ratio of 17.88, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The firm 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%. PG&E’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.23 earnings per share. As a group, research analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

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