SG Americas Securities LLC increased its position in shares of PG&E Co. (NYSE:PCG – Free Report) by 59.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,406 shares of the utilities provider’s stock after buying an additional 26,139 shares during the period. SG Americas Securities LLC’s holdings in PG&E were worth $1,217,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James & Associates grew its position in shares of PG&E by 44.3% during the 1st quarter. Raymond James & Associates now owns 337,858 shares of the utilities provider’s stock valued at $4,034,000 after acquiring an additional 103,767 shares during the period. Raymond James Financial Services Advisors Inc. boosted its position in PG&E by 86.2% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 146,663 shares of the utilities provider’s stock worth $1,751,000 after purchasing an additional 67,898 shares in the last quarter. American Century Companies Inc. grew its holdings in PG&E by 190.4% in the first quarter. American Century Companies Inc. now owns 183,755 shares of the utilities provider’s stock valued at $2,194,000 after purchasing an additional 120,468 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of PG&E by 3.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 30,636 shares of the utilities provider’s stock valued at $366,000 after buying an additional 1,122 shares in the last quarter. Finally, Cetera Advisor Networks LLC acquired a new position in shares of PG&E during the 1st quarter worth approximately $154,000. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Insiders Place Their Bets
In other news, Director Cheryl F. Campbell sold 10,000 shares of the stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $16.90, for a total value of $169,000.00. Following the completion of the sale, the director now owns 54,153 shares of the company’s stock, valued at approximately $915,185.70. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.06% of the stock is owned by insiders.
PG&E Price Performance
PG&E (NYSE:PCG – Get Free Report) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). PG&E had a return on equity of 9.79% and a net margin of 8.79%. The company had revenue of $5.29 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period last year, the business earned $0.25 earnings per share. The firm’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts expect that PG&E Co. will post 1.21 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on PCG. UBS Group raised shares of PG&E from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $19.00 to $21.00 in a report on Monday, August 7th. Guggenheim cut their target price on shares of PG&E from $22.00 to $21.00 in a research note on Friday, July 7th. Morgan Stanley decreased their price target on shares of PG&E from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 23rd. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research note on Monday, September 18th. Finally, Barclays assumed coverage on PG&E in a research report on Wednesday, August 23rd. They issued an “overweight” rating and a $19.00 target price on the stock. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $19.14.
View Our Latest Research Report on PCG
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.
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