Quantbot Technologies LP Boosts Stock Position in PG&E Co. (NYSE:PCG)

Quantbot Technologies LP raised its position in shares of PG&E Co. (NYSE:PCG) by 117.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 264,726 shares of the utilities provider’s stock after buying an additional 142,754 shares during the quarter. Quantbot Technologies LP’s holdings in PG&E were worth $4,622,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the company. Wells Fargo & Company MN grew its stake in PG&E by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after buying an additional 182,279 shares during the last quarter. Crestline Management LP increased its holdings in shares of PG&E by 46.6% during the fourth quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock valued at $10,426,000 after acquiring an additional 183,767 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new position in shares of PG&E during the first quarter valued at about $2,153,000. Dai ichi Life Insurance Company Ltd raised its position in shares of PG&E by 379.0% in the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock valued at $1,379,000 after purchasing an additional 60,525 shares during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in PG&E by 24.7% in the 4th quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock worth $51,680,000 after purchasing an additional 567,929 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCG has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Citigroup raised their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. 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. Wells Fargo & Company raised their price objective on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Finally, Barclays upped their target price on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and eight have assigned 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 target price of $21.45.

PG&E Trading Up 1.2 %

Shares of NYSE:PCG opened at $20.01 on Tuesday. The company has a market capitalization of $52.32 billion, a PE ratio of 17.86 and a beta of 1.01. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $20.65. The business has a 50 day moving average of $18.66 and a two-hundred day moving average of $17.79. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the previous year, the business posted $0.23 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. As a group, analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

Insider Activity

In related news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

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.