PG&E Co. (NYSE:PCG) Shares Bought by Gemmer Asset Management LLC

Gemmer Asset Management LLC grew its holdings in shares of PG&E Co. (NYSE:PCG) by 3.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,772 shares of the utilities provider’s stock after purchasing an additional 1,165 shares during the quarter. Gemmer Asset Management LLC’s holdings in PG&E were worth $683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Gateway Investment Advisers LLC acquired a new stake in PG&E during the 1st quarter worth $5,585,000. Merit Financial Group LLC boosted its stake in PG&E by 384.0% during the 1st quarter. Merit Financial Group LLC now owns 80,699 shares of the utilities provider’s stock worth $1,386,000 after purchasing an additional 64,027 shares during the last quarter. Baker Tilly Wealth Management LLC boosted its stake in PG&E by 9.2% during the 1st quarter. Baker Tilly Wealth Management LLC now owns 17,845 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 1,508 shares during the last quarter. Czech National Bank boosted its stake in PG&E by 6.3% during the 1st quarter. Czech National Bank now owns 503,831 shares of the utilities provider’s stock worth $8,656,000 after purchasing an additional 29,818 shares during the last quarter. Finally, Mirador Capital Partners LP acquired a new stake in PG&E during the 1st quarter worth $2,387,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Down 2.1%

Shares of PCG opened at $15.60 on Friday. The firm has a market cap of $41.74 billion, a P/E ratio of 13.57, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The company’s 50-day moving average price is $16.95 and its 200 day moving average price is $17.55. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.37 earnings per share. On average, sell-side analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.64%. PG&E’s dividend payout ratio (DPR) is currently 9.17%.

Analyst Ratings Changes

Several research analysts have recently weighed in on PCG shares. Guggenheim boosted their price target on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. BMO Capital Markets lowered their price target on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. Evercore ISI boosted their price target on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research report on Monday, April 28th. Finally, UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $20.75.

Insider Activity at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares in the company, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is owned by insiders.

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.