Glenmede Trust Co. NA Acquires 2,878 Shares of PG&E Co. (NYSE:PCG)

Glenmede Trust Co. NA increased its holdings in shares of PG&E Co. (NYSE:PCG) by 15.9% during the third quarter, Holdings Channel.com reports. The firm owned 20,992 shares of the utilities provider’s stock after buying an additional 2,878 shares during the period. Glenmede Trust Co. NA’s holdings in PG&E were worth $415,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCG. Rothschild Investment LLC bought a new stake in shares of PG&E in the 2nd quarter valued at about $30,000. UMB Bank n.a. boosted its holdings in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new stake in shares of PG&E in the 2nd quarter valued at about $44,000. Finally, Crewe Advisors LLC boosted its holdings in shares of PG&E by 243.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock valued at $71,000 after buying an additional 2,863 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PCG. Morgan Stanley raised their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. UBS Group lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays lifted their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.10.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

PG&E Trading Down 1.6 %

PG&E stock opened at $20.52 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.72. The company has a market capitalization of $53.67 billion, a price-to-earnings ratio of 16.03, a price-to-earnings-growth ratio of 1.57 and a beta of 1.01. The stock has a 50-day moving average price of $20.48 and a 200 day moving average price of $19.18.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.24 EPS. Sell-side analysts anticipate that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is 3.13%.

About PG&E

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.