Catalyst Capital Advisors LLC Purchases 2,154 Shares of PG&E Co. (NYSE:PCG)

Catalyst Capital Advisors LLC boosted its position in shares of PG&E Co. (NYSE:PCG) by 98.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,340 shares of the utilities provider’s stock after purchasing an additional 2,154 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in PG&E were worth $86,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCG. Wealth Enhancement Advisory Services LLC raised its holdings in PG&E by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,506 shares of the utilities provider’s stock worth $578,000 after purchasing an additional 1,507 shares during the last quarter. Norden Group LLC raised its holdings in PG&E by 73.0% during the 1st quarter. Norden Group LLC now owns 40,140 shares of the utilities provider’s stock worth $673,000 after purchasing an additional 16,937 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in PG&E by 9.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 65,702 shares of the utilities provider’s stock worth $1,101,000 after purchasing an additional 5,914 shares during the last quarter. Nordea Investment Management AB raised its holdings in PG&E by 19.4% during the 1st quarter. Nordea Investment Management AB now owns 172,768 shares of the utilities provider’s stock worth $2,893,000 after purchasing an additional 28,036 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in PG&E by 149.8% during the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 48,316 shares of the utilities provider’s stock worth $810,000 after purchasing an additional 28,976 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PCG. Jefferies Financial Group began coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. UBS Group boosted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Bank of America began coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Price Performance

Shares of PCG opened at $20.26 on Thursday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The stock has a 50 day simple moving average of $19.99 and a 200 day simple moving average of $18.70. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $20.93. The firm has a market capitalization of $52.97 billion, a PE ratio of 17.31, a P/E/G ratio of 1.53 and a beta of 1.03.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. PG&E’s dividend payout ratio is presently 3.42%.

Insider Activity at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the sale, the vice president now owns 19,114 shares in the company, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.15% of the stock is owned by 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.