Rhumbline Advisers Has $85.74 Million Stock Position in PG&E Co. (NYSE:PCG)

Rhumbline Advisers lifted its stake in PG&E Co. (NYSE:PCG) by 5.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,248,558 shares of the utilities provider’s stock after purchasing an additional 228,099 shares during the quarter. Rhumbline Advisers owned 0.16% of PG&E worth $85,736,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also made changes to their positions in the company. New York State Teachers Retirement System raised its position in PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after acquiring an additional 148,860 shares in the last quarter. V Square Quantitative Management LLC raised its position in shares of PG&E by 11.9% in the fourth quarter. V Square Quantitative Management LLC now owns 14,837 shares of the utilities provider’s stock valued at $299,000 after purchasing an additional 1,583 shares during the period. Van ECK Associates Corp raised its position in shares of PG&E by 94.5% in the fourth quarter. Van ECK Associates Corp now owns 3,545,569 shares of the utilities provider’s stock valued at $71,549,000 after purchasing an additional 1,722,613 shares during the period. Summit Trail Advisors LLC bought a new position in shares of PG&E in the fourth quarter valued at approximately $268,000. Finally, Savant Capital LLC raised its position in shares of PG&E by 6.9% in the fourth quarter. Savant Capital LLC now owns 27,113 shares of the utilities provider’s stock valued at $547,000 after purchasing an additional 1,739 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research report on Wednesday. Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. BMO Capital Markets assumed coverage on shares of PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price objective on the stock. UBS Group lowered their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Finally, Barclays decreased their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One analyst has rated the stock with a sell rating and ten have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction 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 directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

PG&E Stock Down 3.5 %

Shares of NYSE PCG opened at $15.30 on Friday. The stock has a market cap of $40.00 billion, a PE ratio of 11.95, a PEG ratio of 1.09 and a beta of 0.99. The business has a fifty day moving average of $17.93 and a two-hundred day 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 company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

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 analysts’ consensus estimates of $0.31. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. During the same period last year, the business earned $0.47 earnings per share. As a group, equities research analysts expect that PG&E Co. will post 1.36 earnings per share 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.