PG&E Co. (NYSE:PCG) Shares Acquired by Beach Investment Counsel Inc. PA

Beach Investment Counsel Inc. PA grew its holdings in PG&E Co. (NYSE:PCG) by 17.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 444,767 shares of the utilities provider’s stock after buying an additional 66,112 shares during the period. PG&E makes up 1.2% of Beach Investment Counsel Inc. PA’s holdings, making the stock its 22nd biggest holding. Beach Investment Counsel Inc. PA’s holdings in PG&E were worth $8,975,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the company. Longboard Asset Management LP purchased a new position in shares of PG&E in the fourth quarter worth about $203,000. Greenleaf Trust raised its stake in shares of PG&E by 5.9% in the fourth quarter. Greenleaf Trust now owns 15,542 shares of the utilities provider’s stock worth $314,000 after purchasing an additional 872 shares during the last quarter. Avantra Family Wealth Inc. purchased a new position in shares of PG&E in the fourth quarter worth about $411,000. SYM FINANCIAL Corp raised its stake in shares of PG&E by 12.9% in the fourth quarter. SYM FINANCIAL Corp now owns 11,756 shares of the utilities provider’s stock worth $237,000 after purchasing an additional 1,345 shares during the last quarter. Finally, Mediolanum International Funds Ltd raised its stake in shares of PG&E by 327.7% in the fourth quarter. Mediolanum International Funds Ltd now owns 167,580 shares of the utilities provider’s stock worth $3,365,000 after purchasing an additional 128,396 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. BMO Capital Markets assumed coverage on PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. UBS Group reduced their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Mizuho lifted their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Barclays dropped their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

PG&E Stock Performance

Shares of NYSE:PCG opened at $15.04 on Tuesday. The business’s 50 day moving average price is $19.02 and its 200-day moving average price is $19.39. The firm has a market capitalization of $39.32 billion, a PE ratio of 11.75, a P/E/G ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 1 year low of $15.02 and a 1 year high of $21.72.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same quarter in the previous year, the company posted $0.24 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts expect that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.

About PG&E

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.