Global Retirement Partners LLC Buys 1,258 Shares of PG&E Co. (NYSE:PCG)

Posted by on Aug 12th, 2023

Global Retirement Partners LLC lifted its stake in PG&E Co. (NYSE:PCG – Free Report) by 17.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 8,464 shares of the utilities provider’s stock after acquiring an additional 1,258 shares during the period. Global Retirement Partners LLC’s holdings in PG&E were worth $146,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PCG. Clear Street Markets LLC bought a new position in shares of PG&E in the 4th quarter worth $26,000. Ameritas Advisory Services LLC bought a new position in shares of PG&E in the 1st quarter worth $32,000. Caldwell Sutter Capital Inc. acquired a new position in PG&E during the 4th quarter valued at about $44,000. Whittier Trust Co. increased its position in PG&E by 1,152.7% during the 1st quarter. Whittier Trust Co. now owns 3,445 shares of the utilities provider’s stock valued at $56,000 after buying an additional 3,170 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd acquired a new position in PG&E during the 4th quarter valued at about $57,000. 77.09% of the stock is owned by institutional investors.

PG&E Stock Up 0.1 %

Shares of PCG opened at $17.42 on Friday. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.09. PG&E Co. has a 12 month low of $11.60 and a 12 month high of $18.19. The stock’s 50 day moving average is $17.38 and its two-hundred day moving average is $16.67. The firm has a market cap of $44.74 billion, a P/E ratio of 19.14, a PEG ratio of 5.75 and a beta of 1.12.

PG&E (NYSE:PCG – Get Free Report) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.23 EPS for the quarter, missing the consensus estimate of $0.27 by ($0.04). PG&E had a net margin of 8.79% and a return on equity of 9.79%. The business had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the business posted $0.25 earnings per share. The firm’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts predict that PG&E Co. will post 1.21 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PCG has been the topic of several recent analyst reports. StockNews.com initiated coverage on PG&E in a research report on Thursday, May 18th. They set a “hold” rating on the stock. UBS Group raised PG&E from a “neutral” rating to a “buy” rating and upped their target price for the company from $19.00 to $21.00 in a research report on Monday, August 7th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price objective on shares of PG&E in a research note on Friday, July 21st. Royal Bank of Canada raised their price objective on PG&E from $20.00 to $21.00 in a research note on Tuesday, May 30th. Finally, Guggenheim reduced their price objective on PG&E from $22.00 to $21.00 in a research note on Friday, July 7th. Three equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $19.28.

Read Our Latest Stock Report on PG&E

PG&E Company Profile

(Free Report)

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.

Featured Stories

Want to see what other hedge funds are holding PCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PG&E Co. (NYSE:PCG – Free Report).

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.