Integrated Wealth Concepts LLC Raises Stock Position in PG&E Co. (NYSE:PCG)

Integrated Wealth Concepts LLC raised its stake in PG&E Co. (NYSE:PCG) by 55.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 31,990 shares of the utilities provider’s stock after buying an additional 11,366 shares during the period. Integrated Wealth Concepts LLC’s holdings in PG&E were worth $632,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. increased its holdings in PG&E by 259.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 44,650 shares in the last quarter. Scientech Research LLC purchased a new position in shares of PG&E during the 2nd quarter worth approximately $1,122,000. Allspring Global Investments Holdings LLC increased its stake in shares of PG&E by 808.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after purchasing an additional 1,106,200 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of PG&E by 23.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider’s stock worth $24,230,000 after purchasing an additional 265,694 shares in the last quarter. Finally, Creative Planning increased its stake in shares of PG&E by 39.6% during the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock worth $1,944,000 after purchasing an additional 31,573 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Down 1.6 %

Shares of PCG opened at $19.88 on Wednesday. The firm has a market cap of $51.99 billion, a PE ratio of 15.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The company’s fifty day moving average is $20.52 and its two-hundred day moving average is $19.23. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.72. 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 (NYSE:PCG) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. PG&E’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the business earned $0.24 EPS. Analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. The ex-dividend date is Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio (DPR) is 7.81%.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Barclays raised their price objective 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. Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Morgan Stanley raised their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Finally, UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average price target of $23.10.

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

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.