PG&E Co. (NYSE:PCG) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC lifted its holdings in shares of PG&E Co. (NYSE:PCG) by 55.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,990 shares of the utilities provider’s stock after acquiring an additional 11,366 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in PG&E were worth $632,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Investment Management Corp of Ontario increased its stake in PG&E by 49.4% during the 3rd quarter. Investment Management Corp of Ontario now owns 67,456 shares of the utilities provider’s stock worth $1,334,000 after buying an additional 22,300 shares during the period. Janus Henderson Group PLC increased its stake in PG&E by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider’s stock worth $6,646,000 after buying an additional 35,700 shares during the period. Atom Investors LP increased its stake in PG&E by 13.1% during the 3rd quarter. Atom Investors LP now owns 61,292 shares of the utilities provider’s stock worth $1,212,000 after buying an additional 7,096 shares during the period. Paloma Partners Management Co purchased a new stake in PG&E during the 3rd quarter worth $1,493,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in PG&E during the 3rd quarter worth $5,551,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Down 1.6 %

NYSE PCG opened at $19.88 on Wednesday. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The company has a 50-day simple moving average of $20.52 and a 200-day simple moving average of $19.23. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a market capitalization of $51.99 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01.

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 the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. On average, equities analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. This is a positive change from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, December 31st. PG&E’s payout ratio is presently 7.81%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Bank of America assumed coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. UBS Group boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Mizuho boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $23.10.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were 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 $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

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.