Beach Investment Counsel Inc. PA Boosts Position in PG&E Co. (NYSE:PCG)

Beach Investment Counsel Inc. PA increased its holdings in PG&E Co. (NYSE:PCG) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 444,767 shares of the utilities provider’s stock after acquiring an additional 66,112 shares during the quarter. PG&E comprises approximately 1.2% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 22nd biggest position. Beach Investment Counsel Inc. PA’s holdings in PG&E were worth $8,975,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc increased its position in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the period. UMB Bank n.a. raised its position in shares of PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of PG&E by 77.7% in the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 1,834 shares during the period. Catalyst Capital Advisors LLC grew its stake in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 2,154 shares during the period. Finally, Huntington National Bank lifted its position in PG&E by 32.9% during the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,195 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other 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 transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

PG&E Price Performance

PG&E stock opened at $15.04 on Tuesday. The firm’s fifty day moving average is $19.02 and its 200 day moving average is $19.39. PG&E Co. has a 52-week low of $15.02 and a 52-week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The company has a market cap of $39.32 billion, a price-to-earnings ratio of 11.75, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 earnings per share. Sell-side analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Company 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.