Crow Point Partners LLC raised its position in shares of PG&E Co. (NYSE:PCG) by 60.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,000 shares of the utilities provider’s stock after purchasing an additional 75,000 shares during the quarter. PG&E accounts for 1.4% of Crow Point Partners LLC’s portfolio, making the stock its 20th largest position. Crow Point Partners LLC’s holdings in PG&E were worth $8,962,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of PCG. Bank of Stockton purchased a new stake in PG&E during the 3rd quarter valued at about $224,000. Vicus Capital purchased a new stake in PG&E during the 3rd quarter valued at about $342,000. Park Avenue Securities LLC acquired a new position in shares of PG&E in the 3rd quarter valued at about $415,000. Wealthsource Partners LLC acquired a new position in shares of PG&E in the 2nd quarter valued at about $420,000. Finally, Zeke Capital Advisors LLC lifted its holdings in shares of PG&E by 119.1% in the 3rd quarter. Zeke Capital Advisors LLC now owns 8,566 shares of the utilities provider’s stock valued at $583,000 after buying an additional 4,657 shares during the period. Institutional investors and hedge funds own 81.08% of the company’s stock.
In related news, VP David S. Thomason sold 700 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total value of $39,774.00. Following the completion of the transaction, the vice president now owns 6,657 shares of the company’s stock, valued at approximately $378,250.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.15% of the company’s stock.
PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 2nd. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.94 by $0.18. The company had revenue of $4.52 billion during the quarter, compared to analysts’ expectations of $4.82 billion. PG&E had a return on equity of 11.94% and a net margin of 12.59%. PG&E’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.94 EPS. equities analysts anticipate that PG&E Co. will post 3.69 EPS for the current fiscal year.
Several equities analysts have recently issued reports on PCG shares. Evercore ISI decreased their price objective on PG&E from $66.00 to $61.00 in a report on Monday, October 16th. Goldman Sachs Group cut PG&E from a “conviction-buy” rating to a “buy” rating and set a $65.00 price objective for the company. in a report on Monday, October 16th. JPMorgan Chase & Co. set a $66.00 price objective on PG&E and gave the company a “buy” rating in a report on Monday, October 16th. Mizuho reissued a “buy” rating and issued a $78.00 price objective on shares of PG&E in a report on Monday, October 9th. Finally, Morgan Stanley reissued a “buy” rating on shares of PG&E in a report on Monday, October 16th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $62.62.
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PG&E Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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