Gemmer Asset Management LLC Boosts Stake in PG&E Co. (NYSE:PCG)

Gemmer Asset Management LLC grew its stake in PG&E Co. (NYSE:PCG) by 39.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,282 shares of the utilities provider’s stock after acquiring an additional 10,848 shares during the period. Gemmer Asset Management LLC’s holdings in PG&E were worth $668,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. International Assets Investment Management LLC grew its position in shares of PG&E by 84.9% in the fourth quarter. International Assets Investment Management LLC now owns 5,589 shares of the utilities provider’s stock valued at $101,000 after purchasing an additional 2,566 shares during the period. Stratos Wealth Partners LTD. purchased a new stake in PG&E in the 4th quarter valued at $184,000. Bleakley Financial Group LLC raised its position in PG&E by 1.5% during the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after buying an additional 691 shares during the last quarter. Strategic Blueprint LLC purchased a new position in PG&E during the 4th quarter worth $267,000. Finally, Sequoia Financial Advisors LLC increased its holdings in shares of PG&E by 58.7% in the 4th quarter. Sequoia Financial Advisors LLC now owns 41,375 shares of the utilities provider’s stock valued at $746,000 after purchasing an additional 15,296 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the stock. Morgan Stanley reduced their target price on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Barclays upped their price objective on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and upped their target price for the company from $19.00 to $22.00 in a report on Monday, June 10th. Citigroup increased their price objective on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Finally, Wells Fargo & Company increased their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and an average target price of $20.44.

PG&E Stock Up 0.5 %

Shares of PCG traded up $0.09 during mid-day trading on Tuesday, reaching $18.33. The company had a trading volume of 7,892,512 shares, compared to its average volume of 14,153,318. The company has a market capitalization of $47.92 billion, a price-to-earnings ratio of 16.35 and a beta of 1.09. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.95. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a 50-day moving average price of $17.90 and a 200 day moving average price of $17.32.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the prior year, the business posted $0.23 EPS. PG&E’s revenue for the quarter was up 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, June 28th. PG&E’s dividend payout ratio is currently 3.57%.

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.