Mather Group LLC. Acquires New Holdings in PG&E Co. (NYSE:PCG)

Mather Group LLC. acquired a new stake in shares of PG&E Co. (NYSE:PCG) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 5,099 shares of the utilities provider’s stock, valued at approximately $92,000.

Several other hedge funds also recently bought and sold shares of the company. NBC Securities Inc. grew its stake in PG&E by 32,231.0% during the first quarter. NBC Securities Inc. now owns 146,136 shares of the utilities provider’s stock valued at $2,449,000 after acquiring an additional 145,684 shares in the last quarter. CWM LLC grew its stake in PG&E by 30.2% during the first quarter. CWM LLC now owns 25,482 shares of the utilities provider’s stock valued at $427,000 after acquiring an additional 5,918 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in PG&E by 18.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 70,077 shares of the utilities provider’s stock valued at $1,263,000 after acquiring an additional 11,094 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in PG&E during the fourth quarter valued at approximately $9,247,000. Finally, Kingdon Capital Management L.L.C. grew its stake in PG&E by 1,250.0% during the fourth quarter. Kingdon Capital Management L.L.C. now owns 675,000 shares of the utilities provider’s stock valued at $12,170,000 after acquiring an additional 625,000 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 1.0 %

Shares of NYSE PCG opened at $17.66 on Friday. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.95. The firm’s fifty day moving average is $17.81 and its 200 day moving average is $17.25. The company has a market cap of $50.85 billion, a price-to-earnings ratio of 15.77 and a beta of 1.19.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same period in the previous year, the firm earned $0.29 earnings per share. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. On average, equities research analysts expect that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date is Friday, June 28th. PG&E’s payout ratio is currently 3.57%.

Wall Street Analysts Forecast Growth

PCG has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $22.00 in a research report on Monday, June 10th. Citigroup lifted their target price on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Morgan Stanley lifted their target price on shares of PG&E from $16.00 to $18.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. Finally, Mizuho boosted their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.22.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

PG&E 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.