Geode Capital Management LLC Has $187.72 Million Holdings in PG&E Co. (NYSE:PCG)

Geode Capital Management LLC lifted its holdings in shares of PG&E Co. (NYSE:PCG) by 3.4% in the second quarter, HoldingsChannel reports. The institutional investor owned 18,485,773 shares of the utilities provider’s stock after buying an additional 609,373 shares during the period. Geode Capital Management LLC’s holdings in PG&E were worth $187,715,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of PG&E by 1.1% during the 2nd quarter. Vanguard Group Inc. now owns 139,474,156 shares of the utilities provider’s stock worth $1,418,453,000 after buying an additional 1,552,880 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PG&E by 15.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 37,673,052 shares of the utilities provider’s stock worth $383,134,000 after buying an additional 5,149,547 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of PG&E in the 2nd quarter valued at about $1,306,000. ProShare Advisors LLC raised its holdings in shares of PG&E by 9.2% in the 2nd quarter. ProShare Advisors LLC now owns 15,051 shares of the utilities provider’s stock valued at $153,000 after purchasing an additional 1,271 shares during the period. Finally, Boston Partners raised its holdings in shares of PG&E by 2.0% in the 2nd quarter. Boston Partners now owns 11,119,291 shares of the utilities provider’s stock valued at $113,089,000 after purchasing an additional 214,201 shares during the period. Institutional investors own 58.94% of the company’s stock.

In other PG&E news, Director Robert C. Flexon bought 10,000 shares of the stock in a transaction dated Wednesday, September 1st. The shares were bought at an average cost of $9.28 per share, with a total value of $92,800.00. Following the completion of the acquisition, the director now owns 51,299 shares of the company’s stock, valued at $476,054.72. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by company insiders.

PCG has been the topic of a number of research analyst reports. Morgan Stanley dropped their target price on shares of PG&E from $10.50 to $10.00 and set an “equal weight” rating on the stock in a report on Friday, September 17th. Zacks Investment Research raised shares of PG&E from a “sell” rating to a “hold” rating and set a $11.00 target price on the stock in a report on Monday, June 21st. Finally, Royal Bank of Canada raised shares of PG&E from a “sector perform” rating to an “outperform” rating and set a $14.00 target price on the stock in a report on Monday, August 16th. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $13.64.

PG&E stock opened at $10.50 on Thursday. The stock has a market cap of $25.86 billion, a P/E ratio of 28.38, a P/E/G ratio of 3.69 and a beta of 1.39. The company has a quick ratio of 0.63, a current ratio of 0.66 and a debt-to-equity ratio of 1.65. PG&E Co. has a twelve month low of $8.24 and a twelve month high of $12.91. The company’s 50-day moving average price is $9.50 and its two-hundred day moving average price is $10.12.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, July 29th. The utilities provider reported $0.27 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.01). The company had revenue of $5.22 billion during the quarter, compared to the consensus estimate of $4.95 billion. PG&E had a net margin of 4.14% and a return on equity of 9.22%. During the same period in the prior year, the company earned $1.03 earnings per share. Equities analysts anticipate that PG&E Co. will post 1 earnings per share for the current fiscal year.

PG&E Profile

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 San Francisco, CA.

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

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