Oppenheimer Asset Management Inc. Purchases 85,647 Shares of PG&E Co. (NYSE:PCG)

Oppenheimer Asset Management Inc. raised its stake in shares of PG&E Co. (NYSE:PCG) by 17.6% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 572,210 shares of the utilities provider’s stock after acquiring an additional 85,647 shares during the period. Oppenheimer Asset Management Inc.’s holdings in PG&E were worth $9,991,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Meeder Advisory Services Inc. lifted its stake in PG&E by 53.1% during the 2nd quarter. Meeder Advisory Services Inc. now owns 18,928 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 6,565 shares during the period. BOKF NA lifted its stake in PG&E by 4,189.5% during the 2nd quarter. BOKF NA now owns 17,501 shares of the utilities provider’s stock valued at $306,000 after acquiring an additional 17,093 shares during the period. Cornercap Investment Counsel Inc. bought a new position in PG&E during the 2nd quarter valued at about $2,166,000. American Century Companies Inc. lifted its stake in PG&E by 1.1% during the 2nd quarter. American Century Companies Inc. now owns 1,193,627 shares of the utilities provider’s stock valued at $20,841,000 after acquiring an additional 13,196 shares during the period. Finally, LPL Financial LLC lifted its stake in PG&E by 1.7% during the 2nd quarter. LPL Financial LLC now owns 1,977,153 shares of the utilities provider’s stock valued at $34,521,000 after acquiring an additional 32,989 shares during the period. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.5 %

Shares of PCG opened at $19.77 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $20.65. The company has a 50 day simple moving average of $18.61 and a two-hundred day simple moving average of $17.76. The firm has a market cap of $51.70 billion, a P/E ratio of 17.65 and a beta of 1.01.

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

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PCG shares. Bank of America started coverage on shares of PG&E in a research report on Thursday. They set a “buy” rating and a $24.00 price target for the company. Morgan Stanley upped their price target on shares of PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays upped their price target on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Finally, UBS Group increased their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average target price of $21.45.

Insider Buying and Selling at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.15% of the company’s stock.

PG&E Company 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.