PG&E Co. (NYSE:PCG) Shares Purchased by HighTower Advisors LLC

Posted by on May 20th, 2023

HighTower Advisors LLC raised its holdings in shares of PG&E Co. (NYSE:PCG – Get Rating) by 4.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 269,578 shares of the utilities provider’s stock after purchasing an additional 10,673 shares during the period. HighTower Advisors LLC’s holdings in PG&E were worth $4,388,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in PCG. State Street Corp grew its position in shares of PG&E by 121.3% during the third quarter. State Street Corp now owns 86,054,530 shares of the utilities provider’s stock worth $1,075,682,000 after acquiring an additional 47,168,210 shares during the last quarter. Vanguard Group Inc. lifted its holdings in PG&E by 15.7% in the 3rd quarter. Vanguard Group Inc. now owns 219,490,888 shares of the utilities provider’s stock valued at $2,743,636,000 after acquiring an additional 29,840,608 shares during the last quarter. Ensign Peak Advisors Inc lifted its holdings in PG&E by 829.3% in the 3rd quarter. Ensign Peak Advisors Inc now owns 9,735,951 shares of the utilities provider’s stock valued at $121,700,000 after acquiring an additional 8,688,233 shares during the last quarter. Capital International Investors lifted its holdings in PG&E by 13.3% in the 1st quarter. Capital International Investors now owns 47,300,517 shares of the utilities provider’s stock valued at $564,768,000 after acquiring an additional 5,534,131 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in PG&E by 104.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 10,230,430 shares of the utilities provider’s stock valued at $127,880,000 after acquiring an additional 5,232,503 shares during the last quarter. Institutional investors own 83.63% of the company’s stock.

PG&E Trading Up 0.3 %

Shares of PCG stock opened at $16.61 on Friday. The business’s 50 day moving average is $16.62 and its two-hundred day moving average is $15.98. The company has a market cap of $41.09 billion, a PE ratio of 18.66, a price-to-earnings-growth ratio of 5.42 and a beta of 1.13. The company has a quick ratio of 0.77, a current ratio of 0.83 and a debt-to-equity ratio of 2.06. PG&E Co. has a 12 month low of $9.64 and a 12 month high of $17.68.

PG&E (NYSE:PCG – Get Rating) last announced its quarterly earnings data on Friday, May 5th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.29. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $6.19 billion. PG&E had a net margin of 8.64% and a return on equity of 10.21%. PG&E’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $0.30 earnings per share. Equities analysts predict that PG&E Co. will post 1.22 EPS for the current year.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Credit Suisse Group upped their price objective on shares of PG&E from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. StockNews.com assumed coverage on shares of PG&E in a research note on Thursday. They set a “hold” rating for the company. Royal Bank of Canada reaffirmed an “outperform” rating and set a $20.00 price objective on shares of PG&E in a research note on Friday, March 10th. LADENBURG THALM/SH SH assumed coverage on shares of PG&E in a research report on Monday, April 3rd. They issued a “buy” rating and a $20.50 price target for the company. Finally, Morgan Stanley increased their price target on shares of PG&E from $13.00 to $15.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 20th. Five equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.17.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 66,700 shares of PG&E stock in a transaction on Friday, March 3rd. The stock was sold at an average price of $15.87, for a total transaction of $1,058,529.00. Following the completion of the transaction, the chief executive officer now directly owns 1,269,325 shares of the company’s stock, valued at $20,144,187.75. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.06% of the stock is owned by company insiders.

PG&E Company Profile

(Get Rating)

PG&E Corp. is a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.

Featured Articles

Institutional Ownership by Quarter for PG&E (NYSE:PCG)

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.