Edgestream Partners L.P. bought a new stake in PG&E Co. (NYSE:PCG – Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 88,345 shares of the utilities provider’s stock, valued at approximately $1,527,000.
Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in PG&E by 2.8% in the first quarter. Vanguard Group Inc. now owns 178,625,714 shares of the utilities provider’s stock valued at $2,132,791,000 after buying an additional 4,877,501 shares during the last quarter. BlackRock Inc. increased its holdings in PG&E by 12.8% in the first quarter. BlackRock Inc. now owns 134,314,990 shares of the utilities provider’s stock valued at $2,171,873,000 after buying an additional 15,210,198 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PG&E by 43.6% during the first quarter. JPMorgan Chase & Co. now owns 62,502,105 shares of the utilities provider’s stock worth $1,010,660,000 after purchasing an additional 18,984,092 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PG&E by 3.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 50,328,088 shares of the utilities provider’s stock worth $813,807,000 after purchasing an additional 1,475,235 shares during the last quarter. Finally, Capital International Investors grew its holdings in shares of PG&E by 13.3% during the first quarter. Capital International Investors now owns 47,300,517 shares of the utilities provider’s stock worth $564,768,000 after purchasing an additional 5,534,131 shares during the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Insider Activity at PG&E
In other news, Director Cheryl F. Campbell sold 10,000 shares of PG&E stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $16.90, for a total transaction of $169,000.00. Following the completion of the sale, the director now directly owns 54,153 shares in the company, valued at approximately $915,185.70. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.06% of the stock is owned by insiders.
PG&E Price Performance
PG&E (NYSE:PCG – Get Free Report) last announced its quarterly earnings data on Thursday, October 26th. The utilities provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.04). The firm had revenue of $5.89 billion during the quarter, compared to analyst estimates of $5.48 billion. PG&E had a net margin of 8.13% and a return on equity of 9.21%. PG&E’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 EPS. Research analysts predict that PG&E Co. will post 1.21 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several equities analysts have issued reports on the company. Mizuho raised their price objective on PG&E from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Friday. UBS Group raised PG&E from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $19.00 to $21.00 in a report on Monday, August 7th. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a report on Monday. Guggenheim dropped their price objective on PG&E from $21.00 to $19.00 in a report on Monday, October 9th. Finally, Evercore ISI reiterated an “in-line” rating and set a $16.00 target price on shares of PG&E in a research note on Monday, October 23rd. Five equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average price target of $18.63.
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.
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