Wedmont Private Capital Raises Position in PG&E Co. (NYSE:PCG)

Wedmont Private Capital grew its stake in shares of PG&E Co. (NYSE:PCG) by 15.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,877 shares of the utilities provider’s stock after buying an additional 2,364 shares during the quarter. Wedmont Private Capital’s holdings in PG&E were worth $324,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Vima LLC bought a new position in PG&E during the 4th quarter worth approximately $41,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of PG&E in the fourth quarter worth $47,000. Tidemark LLC bought a new stake in PG&E during the 4th quarter valued at $54,000. Massmutual Trust Co. FSB ADV boosted its position in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,179 shares during the period. Finally, Pacific Center for Financial Services grew its holdings in PG&E by 29.3% in the 1st quarter. Pacific Center for Financial Services now owns 4,648 shares of the utilities provider’s stock worth $78,000 after acquiring an additional 1,052 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on PCG. Citigroup upped their price target on PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Morgan Stanley cut their price target on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday, June 24th. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Mizuho raised their target price on shares of PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, Wells Fargo & Company lifted 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $20.44.

PG&E Stock Up 0.5 %

Shares of PG&E stock traded up $0.09 on Tuesday, reaching $18.32. The company’s stock had a trading volume of 7,744,979 shares, compared to its average volume of 14,153,318. The company has a market capitalization of $47.91 billion, a price-to-earnings ratio of 16.35 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.95. The firm’s fifty day simple moving average is $17.90 and its two-hundred day simple moving average is $17.32.

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

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, June 28th. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.