Voloridge Investment Management LLC Boosts Stock Holdings in PG&E Co. (NYSE:PCG)

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Voloridge Investment Management LLC raised its holdings in shares of PG&E Co. (NYSE:PCG) by 28.3% during the third quarter, HoldingsChannel reports. The firm owned 556,272 shares of the utilities provider’s stock after purchasing an additional 122,547 shares during the period. Voloridge Investment Management LLC’s holdings in PG&E were worth $5,563,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCG. NEXT Financial Group Inc purchased a new position in shares of PG&E in the 2nd quarter worth approximately $43,000. Texas Yale Capital Corp. purchased a new position in shares of PG&E in the 2nd quarter worth approximately $244,000. Creative Planning grew its position in shares of PG&E by 20.7% in the 2nd quarter. Creative Planning now owns 24,659 shares of the utilities provider’s stock worth $565,000 after buying an additional 4,222 shares during the last quarter. Tuttle Tactical Management purchased a new position in shares of PG&E in the 2nd quarter worth approximately $978,000. Finally, Liberty Wealth Management LLC grew its position in shares of PG&E by 836.1% in the 2nd quarter. Liberty Wealth Management LLC now owns 2,022 shares of the utilities provider’s stock worth $46,000 after buying an additional 1,806 shares during the last quarter. 87.89% of the stock is currently owned by institutional investors and hedge funds.

PCG stock opened at $7.46 on Monday. The firm has a 50 day moving average of $7.02 and a 200 day moving average of $13.96. The stock has a market capitalization of $3.95 billion, a PE ratio of 1.87, a price-to-earnings-growth ratio of 0.77 and a beta of 0.39. The company has a quick ratio of 1.69, a current ratio of 1.79 and a debt-to-equity ratio of 0.21. PG&E Co. has a 52 week low of $3.55 and a 52 week high of $27.59.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $1.11 EPS for the quarter, beating the consensus estimate of $1.01 by $0.10. PG&E had a negative net margin of 66.15% and a positive return on equity of 18.81%. The business had revenue of $4.43 billion during the quarter, compared to analysts’ expectations of $4.39 billion. On average, equities research analysts expect that PG&E Co. will post 3.89 earnings per share for the current year.

A number of brokerages have recently issued reports on PCG. Wells Fargo & Co reaffirmed a “hold” rating on shares of PG&E in a research report on Monday, October 28th. UBS Group lowered their target price on shares of PG&E from $10.00 to $9.00 and set a “neutral” rating for the company in a research note on Monday, November 25th. Morgan Stanley lowered their target price on shares of PG&E from $23.00 to $16.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 9th. Citigroup reiterated a “sell” rating and issued a $5.00 target price on shares of PG&E in a research note on Monday, November 25th. Finally, Evercore ISI set a $25.00 target price on shares of PG&E and gave the stock a “hold” rating in a research note on Monday, August 12th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $14.83.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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