Telemus Capital LLC Buys 678,470 Shares of PG&E Co. (NYSE:PCG)

Telemus Capital LLC increased its stake in shares of PG&E Co. (NYSE:PCG – Get Rating) by 104.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,325,343 shares of the utilities provider’s stock after acquiring an additional 678,470 shares during the quarter. PG&E comprises approximately 1.9% of Telemus Capital LLC’s holdings, making the stock its 11th largest holding. Telemus Capital LLC owned 0.05% of PG&E worth $21,060,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of PCG. FMR LLC increased its position in PG&E by 38.6% during the second quarter. FMR LLC now owns 194,321,169 shares of the utilities provider’s stock worth $1,939,326,000 after acquiring an additional 54,108,481 shares during the period. State Street Corp boosted its stake in PG&E by 121.3% during the third quarter. State Street Corp now owns 86,054,530 shares of the utilities provider’s stock worth $1,075,682,000 after buying an additional 47,168,210 shares in the last quarter. Vanguard Group Inc. boosted its stake in PG&E by 15.7% during the third quarter. Vanguard Group Inc. now owns 219,490,888 shares of the utilities provider’s stock worth $2,743,636,000 after buying an additional 29,840,608 shares in the last quarter. Gallagher Fiduciary Advisors LLC boosted its stake in PG&E by 107.4% during the third quarter. Gallagher Fiduciary Advisors LLC now owns 54,243,109 shares of the utilities provider’s stock worth $678,039,000 after buying an additional 28,087,050 shares in the last quarter. Finally, Ensign Peak Advisors Inc boosted its stake in PG&E by 829.3% during the third quarter. Ensign Peak Advisors Inc now owns 9,735,951 shares of the utilities provider’s stock worth $121,700,000 after buying an additional 8,688,233 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

Analysts Set New Price Targets

PCG has been the topic of a number of recent research reports. StockNews.com initiated coverage on shares of PG&E in a research note on Thursday. They set a “hold” rating on the stock. Credit Suisse Group lifted their price target on shares of PG&E from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Jefferies Financial Group restated a “neutral” rating and issued a $17.00 target price on shares of PG&E in a research note on Tuesday, January 3rd. Royal Bank of Canada restated an “outperform” rating and issued a $20.00 target price on shares of PG&E in a research note on Friday, March 10th. Finally, Wells Fargo & Company boosted their target price on shares of PG&E to $20.00 in a research note on Wednesday, December 14th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $17.78.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 66,700 shares of PG&E stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.87, for a total value of $1,058,529.00. Following the completion of the transaction, the chief executive officer now directly owns 1,269,325 shares of the company’s stock, valued at $20,144,187.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other PG&E news, CEO Patricia K. Poppe sold 66,700 shares of the business’s stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $15.87, for a total transaction of $1,058,529.00. Following the completion of the sale, the chief executive officer now directly owns 1,269,325 shares of the company’s stock, valued at approximately $20,144,187.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the business’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $15.26, for a total value of $915,600,000.00. Following the sale, the insider now directly owns 187,743,590 shares of the company’s stock, valued at $2,864,967,183.40. The disclosure for this sale can be found here. 0.06% of the stock is currently owned by company insiders.

PG&E Stock Performance

PG&E stock opened at $16.10 on Friday. The stock has a 50-day simple moving average of $15.80 and a 200 day simple moving average of $15.02. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 2.07. PG&E Co. has a 12-month low of $9.64 and a 12-month high of $16.83. The stock has a market capitalization of $39.71 billion, a price-to-earnings ratio of 19.17, a P/E/G ratio of 5.31 and a beta of 1.10.

PG&E (NYSE:PCG – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). PG&E had a net margin of 8.37% and a return on equity of 10.55%. The business had revenue of $5.37 billion during the quarter, compared to the consensus estimate of $5.70 billion. During the same period in the prior year, the firm earned $0.28 earnings per share. On average, research analysts anticipate that PG&E Co. will post 1.21 earnings per share for the current fiscal year.

PG&E Company Profile

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PG&E Corp. is 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.