PG&E Co. (NYSE:PCG) Shares Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 21.7% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 87,919 shares of the utilities provider’s stock after buying an additional 15,648 shares during the quarter. Sanctuary Advisors LLC’s holdings in PG&E were worth $1,879,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. King Street Capital Management L.P. acquired a new stake in PG&E in the 2nd quarter worth approximately $1,964,250,000. State Street Corp grew its position in PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after buying an additional 536,914 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PCG. Morgan Stanley boosted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group boosted their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.00.

PG&E Trading Down 2.6 %

PG&E stock opened at $19.20 on Thursday. The firm has a market cap of $50.21 billion, a PE ratio of 15.00, a P/E/G ratio of 1.51 and a beta of 1.01. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.72. The stock’s 50 day simple moving average is $20.51 and its two-hundred day simple moving average is $19.28. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

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

PG&E Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.52%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is currently 7.81%.

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.