CX Institutional Has $240,000 Stock Position in PG&E Co. (NYSE:PCG)

CX Institutional lifted its holdings in shares of PG&E Co. (NYSE:PCG) by 35.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,971 shares of the utilities provider’s stock after purchasing an additional 3,629 shares during the quarter. CX Institutional’s holdings in PG&E were worth $240,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of PCG. Apollon Wealth Management LLC increased its stake in shares of PG&E by 9.0% during the 4th quarter. Apollon Wealth Management LLC now owns 11,168 shares of the utilities provider’s stock worth $225,000 after purchasing an additional 923 shares during the last quarter. Empowered Funds LLC increased its stake in shares of PG&E by 13.7% during the 4th quarter. Empowered Funds LLC now owns 40,335 shares of the utilities provider’s stock worth $814,000 after purchasing an additional 4,853 shares during the last quarter. Savant Capital LLC increased its stake in shares of PG&E by 6.9% during the 4th quarter. Savant Capital LLC now owns 27,113 shares of the utilities provider’s stock worth $547,000 after purchasing an additional 1,739 shares during the last quarter. V Square Quantitative Management LLC increased its stake in shares of PG&E by 11.9% during the 4th quarter. V Square Quantitative Management LLC now owns 14,837 shares of the utilities provider’s stock worth $299,000 after purchasing an additional 1,583 shares during the last quarter. Finally, New York State Teachers Retirement System increased its stake in shares of PG&E by 8.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after purchasing an additional 148,860 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PG&E stock opened at $13.60 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a fifty-two week low of $13.52 and a fifty-two week high of $21.72. The firm has a fifty day moving average price of $16.72 and a two-hundred day moving average price of $17.28. The company has a market cap of $36.39 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. PG&E’s revenue was up 2.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.37 earnings per share. Analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.74%. PG&E’s dividend payout ratio is 9.17%.

Analysts Set New Price Targets

PCG has been the topic of a number of research analyst reports. Morgan Stanley set a $18.00 target price on shares of PG&E and gave the company an “underweight” rating in a research note on Thursday, May 22nd. Mizuho raised their target price on shares of PG&E from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Evercore ISI raised their target price on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research note on Monday, April 28th. Guggenheim raised their target price on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, BMO Capital Markets lowered their target price on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $20.73.

Insider Transactions at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president now owns 151,116 shares in the company, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.14% of the company’s stock.

PG&E Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.