PG&E Co. (NYSE:PCG) Holdings Lifted by Panagora Asset Management Inc.

Posted by on Jun 10th, 2023

Panagora Asset Management Inc. grew its position in PG&E Co. (NYSE:PCG – Get Rating) by 26.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 229,328 shares of the utilities provider’s stock after purchasing an additional 47,723 shares during the period. Panagora Asset Management Inc.’s holdings in PG&E were worth $3,729,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Lindbrook Capital LLC lifted its position in shares of PG&E by 5.4% in the 4th quarter. Lindbrook Capital LLC now owns 14,723 shares of the utilities provider’s stock valued at $239,000 after acquiring an additional 758 shares in the last quarter. Texas Permanent School Fund lifted its position in shares of PG&E by 0.4% in the 4th quarter. Texas Permanent School Fund now owns 228,755 shares of the utilities provider’s stock valued at $3,720,000 after acquiring an additional 948 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of PG&E by 0.9% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 111,398 shares of the utilities provider’s stock valued at $1,811,000 after acquiring an additional 1,006 shares in the last quarter. Cigna Investments Inc. New lifted its position in shares of PG&E by 5.4% in the 4th quarter. Cigna Investments Inc. New now owns 20,006 shares of the utilities provider’s stock valued at $326,000 after acquiring an additional 1,021 shares in the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC lifted its position in shares of PG&E by 3.6% in the 4th quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 31,117 shares of the utilities provider’s stock valued at $506,000 after acquiring an additional 1,079 shares in the last quarter. Institutional investors own 83.63% of the company’s stock.

PG&E Stock Performance

NYSE:PCG opened at $16.88 on Friday. PG&E Co. has a 1 year low of $9.64 and a 1 year high of $17.68. The firm’s fifty day simple moving average is $16.88 and its 200 day simple moving average is $16.17. The company has a current ratio of 0.83, a quick ratio of 0.77 and a debt-to-equity ratio of 2.06. The firm has a market capitalization of $41.75 billion, a PE ratio of 18.97, a PEG ratio of 5.60 and a beta of 1.14.

PG&E (NYSE:PCG – Get Rating) last posted its earnings results on Friday, May 5th. The utilities provider reported $0.29 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.29. PG&E had a net margin of 8.64% and a return on equity of 10.21%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $6.19 billion. During the same period last year, the business posted $0.30 EPS. PG&E’s revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts anticipate that PG&E Co. will post 1.21 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on PCG shares. LADENBURG THALM/SH SH initiated 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. Royal Bank of Canada increased their target price on shares of PG&E from $20.00 to $21.00 in a research report on Tuesday, May 30th. StockNews.com initiated coverage on shares of PG&E in a research report on Thursday, May 18th. They issued a “hold” rating for the company. Credit Suisse Group increased their target price on shares of PG&E from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, February 24th. Finally, Morgan Stanley increased their target price 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average target price of $18.28.

About PG&E

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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.

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

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