Entropy Technologies LP Purchases New Stake in PG&E Co. (NYSE:PCG)

Entropy Technologies LP bought a new position in shares of PG&E Co. (NYSE:PCG) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 228,585 shares of the utilities provider’s stock, valued at approximately $3,831,000.

A number of other institutional investors and hedge funds have also modified their holdings of PCG. Comerica Bank acquired a new position in shares of PG&E in the 3rd quarter valued at about $5,783,000. American Century Companies Inc. lifted its stake in PG&E by 15.3% in the third quarter. American Century Companies Inc. now owns 1,063,803 shares of the utilities provider’s stock valued at $17,159,000 after buying an additional 141,363 shares during the last quarter. DNB Asset Management AS raised its holdings in shares of PG&E by 7.8% during the fourth quarter. DNB Asset Management AS now owns 411,176 shares of the utilities provider’s stock valued at $7,414,000 after buying an additional 29,617 shares during the last quarter. Wedmont Private Capital raised its stake in PG&E by 45.3% during the 4th quarter. Wedmont Private Capital now owns 15,051 shares of the utilities provider’s stock valued at $272,000 after acquiring an additional 4,693 shares in the last quarter. Finally, Dfpg Investments LLC lifted its holdings in PG&E by 2.0% in the fourth quarter. Dfpg Investments LLC now owns 64,255 shares of the utilities provider’s stock worth $1,155,000 after purchasing an additional 1,267 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Buying and Selling

In other news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

PG&E Stock Performance

Shares of PCG traded up $0.23 during trading hours on Wednesday, reaching $17.95. 15,197,397 shares of the company traded hands, compared to its average volume of 14,605,825. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. The stock’s fifty day moving average is $17.97 and its 200 day moving average is $17.23. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.95. The stock has a market cap of $51.68 billion, a P/E ratio of 16.03 and a beta of 1.08.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The firm had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter in the previous year, the firm posted $0.29 EPS. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

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

Analyst Ratings Changes

Several research analysts have recently weighed in on PCG shares. Citigroup lifted their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. The Goldman Sachs Group initiated coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Mizuho lifted their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Morgan Stanley reduced their price objective on PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Finally, Barclays lowered their target price on PG&E from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus target price of $20.11.

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.