Rhumbline Advisers Acquires 228,099 Shares of PG&E Co. (NYSE:PCG)

Rhumbline Advisers lifted its holdings in PG&E Co. (NYSE:PCG) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,248,558 shares of the utilities provider’s stock after buying an additional 228,099 shares during the quarter. Rhumbline Advisers’ holdings in PG&E were worth $85,736,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in PCG. Creative Planning raised its holdings in shares of PG&E by 22.5% in the third quarter. Creative Planning now owns 136,364 shares of the utilities provider’s stock valued at $2,696,000 after buying an additional 25,006 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of PG&E by 2.7% in the third quarter. Bleakley Financial Group LLC now owns 41,806 shares of the utilities provider’s stock valued at $827,000 after buying an additional 1,111 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in PG&E by 8.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 226,696 shares of the utilities provider’s stock worth $4,482,000 after purchasing an additional 18,085 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in PG&E by 22.7% during the 3rd quarter. V Square Quantitative Management LLC now owns 13,254 shares of the utilities provider’s stock worth $262,000 after purchasing an additional 2,449 shares during the last quarter. Finally, Stonegate Investment Group LLC bought a new stake in PG&E during the 3rd quarter worth about $262,000. 78.56% of the stock is owned by institutional investors.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by insiders.

PG&E Price Performance

Shares of PCG opened at $15.30 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50 day simple moving average of $17.93 and a 200 day simple moving average of $19.20. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The firm has a market capitalization of $40.00 billion, a PE ratio of 11.95, a P/E/G ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the firm earned $0.47 EPS. Sell-side analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent research reports. Mizuho boosted their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Barclays dropped their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $20.00 to $16.50 in a report on Friday. Finally, BMO Capital Markets began coverage on PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective for the company. One research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and an average target price of $22.05.

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.