Exchange Traded Concepts LLC Raises Holdings in PG&E Co. (NYSE:PCG)

Exchange Traded Concepts LLC increased its position in PG&E Co. (NYSE:PCG) by 32.4% in the 4th quarter, Holdings Channel reports. The firm owned 6,240 shares of the utilities provider’s stock after buying an additional 1,526 shares during the period. Exchange Traded Concepts LLC’s holdings in PG&E were worth $126,000 as of its most recent filing with the SEC.

A number of other large investors have also recently made changes to their positions in the company. Czech National Bank lifted its stake in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after buying an additional 38,590 shares during the last quarter. State Street Corp raised its position in PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. raised its position in PG&E by 259.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after purchasing an additional 44,650 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in PG&E during the 4th quarter worth $514,000. Finally, Merit Financial Group LLC purchased a new position in PG&E during the 4th quarter worth $336,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays reduced their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. UBS Group lowered their target price on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday. BMO Capital Markets initiated coverage on PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. Finally, Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.36.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

PG&E Trading Down 0.2 %

NYSE:PCG opened at $15.65 on Friday. PG&E Co. has a 1 year low of $15.32 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a fifty day moving average price of $19.02 and a two-hundred day moving average price of $19.38. The stock has a market capitalization of $40.94 billion, a price-to-earnings ratio of 12.23, a PEG ratio of 1.10 and a beta of 0.98.

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

PG&E Company Profile

PG&E Corp. operates as 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.