CAPROCK Group Inc. Invests $579,000 in PG&E Co. (PCG)

CAPROCK Group Inc. purchased a new stake in shares of PG&E Co. (NYSE:PCG) during the first quarter, Holdings Channel reports. The firm purchased 8,721 shares of the utilities provider’s stock, valued at approximately $579,000.

Several other institutional investors have also recently made changes to their positions in PCG. ZWJ Investment Counsel Inc. purchased a new position in shares of PG&E Co. during the fourth quarter valued at about $243,000. Quantitative Systematic Strategies LLC purchased a new position in shares of PG&E Co. during the first quarter valued at about $269,000. Parallel Advisors LLC purchased a new position in shares of PG&E Co. during the fourth quarter valued at about $307,000. Jacobs & Co. CA raised its position in shares of PG&E Co. by 44.7% in the first quarter. Jacobs & Co. CA now owns 5,555 shares of the utilities provider’s stock valued at $368,000 after buying an additional 1,717 shares during the period. Finally, Regentatlantic Capital LLC raised its position in shares of PG&E Co. by 31.2% in the first quarter. Regentatlantic Capital LLC now owns 7,008 shares of the utilities provider’s stock valued at $465,000 after buying an additional 1,665 shares during the period. 82.01% of the stock is owned by institutional investors.

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

Shares of PG&E Co. (NYSE:PCG) traded up 0.27% during midday trading on Friday, hitting $67.33. 2,200,157 shares of the stock were exchanged. PG&E Co. has a 1-year low of $56.39 and a 1-year high of $68.29. The firm’s 50 day moving average is $66.72 and its 200-day moving average is $62.32. The stock has a market capitalization of $34.19 billion, a price-to-earnings ratio of 24.22 and a beta of 0.21.

PG&E Co. (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 16th. The utilities provider reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.30 by $0.03. PG&E Co. had a net margin of 4.94% and a return on equity of 8.52%. The company had revenue of $4.71 billion for the quarter, compared to analyst estimates of $4.93 billion. During the same quarter in the previous year, the firm posted $0.50 earnings per share. On average, analysts predict that PG&E Co. will post $3.66 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Saturday, April 15th. Investors of record on Friday, March 31st were issued a dividend of $0.49 per share. 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 analysts have recently issued reports on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $71.00 price target on shares of PG&E Co. in a report on Thursday. Barclays PLC upped their target price on shares of PG&E Co. from $63.00 to $65.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 8th. Deutsche Bank AG upped their target price on shares of PG&E Co. from $67.00 to $69.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $71.00 target price on shares of PG&E Co. in a research note on Wednesday, January 4th. Finally, Zacks Investment Research lowered shares of PG&E Co. from a “buy” rating to a “hold” rating in a research note on Wednesday, January 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price 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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