MBB Public Markets I LLC Acquires Shares of 141,846 PG&E Co. (NYSE:PCG)

MBB Public Markets I LLC bought a new stake in PG&E Co. (NYSE:PCG) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 141,846 shares of the utilities provider’s stock, valued at approximately $2,477,000.

A number of other institutional investors have also recently made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in PG&E in the 2nd quarter worth about $30,000. UMB Bank n.a. increased its stake in shares of PG&E by 84.7% in the second 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 in the last quarter. Blue Trust Inc. increased its stake in shares of PG&E by 77.0% in the second 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 bought a new stake in shares of PG&E in the fourth quarter valued at approximately $41,000. Finally, Plato Investment Management Ltd purchased a new stake in shares of PG&E during the 2nd quarter valued at approximately $44,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Up 0.3 %

PCG stock opened at $19.82 on Friday. The company’s 50 day moving average is $19.03 and its 200 day moving average is $17.98. The stock has a market cap of $51.83 billion, a price-to-earnings ratio of 17.70, a price-to-earnings-growth ratio of 1.52 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 Co. has a 1-year low of $14.71 and a 1-year high of $20.65.

PG&E (NYSE:PCG) last issued its quarterly 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. 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 for the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the firm earned $0.23 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. Sell-side analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PCG shares. UBS Group lifted 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. Barclays boosted their price objective on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. Bank of America started coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Finally, Citigroup increased their price target on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $21.55.

Insiders Place Their Bets

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following 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 legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

PG&E Company 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.