PG&E Co. (PCG) Stake Lowered by Wagner Bowman Management Corp

Wagner Bowman Management Corp cut its stake in PG&E Co. (NYSE:PCG) by 1.5% during the first quarter, Holdings Channel reports. The fund owned 9,842 shares of the utilities provider’s stock after selling 146 shares during the period. Wagner Bowman Management Corp’s holdings in PG&E Co. were worth $653,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Macquarie Group Ltd. raised its position in PG&E Co. by 2.1% in the fourth quarter. Macquarie Group Ltd. now owns 1,343,740 shares of the utilities provider’s stock valued at $81,659,000 after buying an additional 27,100 shares during the last quarter. Horizon Investments LLC bought a new position in PG&E Co. during the fourth quarter valued at $596,000. Cleararc Capital Inc. raised its position in PG&E Co. by 0.6% in the fourth quarter. Cleararc Capital Inc. now owns 12,302 shares of the utilities provider’s stock valued at $748,000 after buying an additional 75 shares during the last quarter. ZWJ Investment Counsel Inc. bought a new position in PG&E Co. during the fourth quarter valued at $243,000. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its position in PG&E Co. by 8.0% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,627,793 shares of the utilities provider’s stock valued at $99,572,000 after buying an additional 120,426 shares during the last quarter. Hedge funds and other institutional investors own 82.01% of the company’s stock.

Institutional Ownership by Quarter for PG&E Co. (NYSE:PCG)

Shares of PG&E Co. (NYSE:PCG) traded up 0.27% during trading on Friday, reaching $67.33. The company’s stock had a trading volume of 2,200,157 shares. The company has a 50-day moving average price of $66.72 and a 200-day moving average price of $62.32. PG&E Co. has a one year low of $56.39 and a one year high of $68.29. The stock has a market cap of $34.19 billion, a price-to-earnings ratio of 24.22 and a beta of 0.21.

PG&E Co. (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 16th. The utilities provider reported $1.33 earnings per share for the quarter, topping analysts’ consensus estimates of $1.30 by $0.03. The firm earned $4.71 billion during the quarter, compared to analysts’ expectations of $4.93 billion. PG&E Co. had a return on equity of 8.52% and a net margin of 4.94%. During the same period in the prior year, the business posted $0.50 EPS. On average, equities research analysts forecast that PG&E Co. will post $3.66 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Saturday, April 15th. Shareholders of record on Friday, March 31st were paid a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a yield of 2.91%. The ex-dividend date was Wednesday, March 29th. PG&E Co.’s dividend payout ratio (DPR) is presently 117.37%.

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Several equities research analysts have commented on PCG shares. Zacks Investment Research raised shares of PG&E Co. from a “hold” rating to a “buy” rating and set a $68.00 price objective on the stock in a report on Tuesday, January 24th. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of PG&E Co. in a report on Thursday, February 23rd. Deutsche Bank AG increased their price target on shares of PG&E Co. from $67.00 to $69.00 and gave the stock a “buy” rating in a report on Tuesday, April 11th. Jefferies Group LLC increased their price target on shares of PG&E Co. from $69.00 to $71.00 and gave the stock a “buy” rating in a report on Friday, February 17th. Finally, Barclays PLC increased their price target on shares of PG&E Co. from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, February 8th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. PG&E Co. presently has a consensus rating of “Buy” and a consensus price target of $68.80.

About PG&E Co.

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

5 Day Chart for NYSE:PCG

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