10,057 Shares in PG&E Co. (NYSE:PCG) Acquired by Longboard Asset Management LP

Longboard Asset Management LP bought a new position in shares of PG&E Co. (NYSE:PCG) during the fourth quarter, Holdings Channel reports. The fund bought 10,057 shares of the utilities provider’s stock, valued at approximately $203,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCG. FMR LLC grew its stake in PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares in the last quarter. State Street Corp grew its stake in PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after buying an additional 5,191,463 shares in the last quarter. Brookfield Corp ON grew its stake in PG&E by 45.6% in the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after buying an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its stake in PG&E by 91.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after buying an additional 1,920,734 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.3 %

NYSE:PCG opened at $15.21 on Wednesday. The company has a fifty day moving average of $18.77 and a 200 day moving average of $19.35. PG&E Co. has a 52 week low of $14.99 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 firm has a market capitalization of $39.77 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating 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 company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the business posted $0.24 EPS. The firm’s revenue was up .9% compared to the same quarter last year. On average, research analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

Analyst Ratings Changes

PCG has been the subject of a number of research reports. BMO Capital Markets initiated coverage on shares of PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price target for the company. Jefferies Financial Group initiated 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. Mizuho upped their price objective 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 cut their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, Barclays cut their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $22.36.

Insiders Place Their Bets

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

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.