Strategy Asset Managers LLC Makes New $943,000 Investment in PG&E Co. (NYSE:PCG)

Strategy Asset Managers LLC bought a new stake in PG&E Co. (NYSE:PCG) in the second quarter, HoldingsChannel.com reports. The fund bought 54,585 shares of the utilities provider’s stock, valued at approximately $943,000.

Other large investors also recently bought and sold shares of the company. Truist Financial Corp increased its stake in PG&E by 3.5% during the fourth quarter. Truist Financial Corp now owns 44,794 shares of the utilities provider’s stock worth $808,000 after acquiring an additional 1,528 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in shares of PG&E in the fourth quarter worth about $183,000. Benjamin F. Edwards & Company Inc. purchased a new position in PG&E in the 4th quarter worth about $86,000. Merit Financial Group LLC purchased a new position in PG&E in the 4th quarter worth about $362,000. Finally, Private Advisor Group LLC purchased a new stake in PG&E in the 4th quarter valued at about $231,000. Institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCG. Barclays raised their target price on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company upped their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Mizuho lifted their price objective on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and raised their target price for the company from $19.00 to $22.00 in a research report on Monday, June 10th. Finally, Morgan Stanley upped their price target on shares of PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $21.20.

PG&E Stock Up 2.4 %

Shares of PCG traded up $0.48 during mid-day trading on Wednesday, hitting $20.42. 5,389,071 shares of the company traded hands, compared to its average volume of 13,915,848. The business has a 50 day moving average of $18.18 and a 200 day moving average of $17.58. The company has a market capitalization of $58.79 billion, a PE ratio of 17.80 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.90 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 $20.53.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company posted $0.23 earnings per share. Equities research analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

Insider Buying and Selling at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of PG&E 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 completion of the sale, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

About PG&E

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.