Amundi Pioneer Asset Management Inc. purchased a new position in shares of PG&E Co. (NYSE:PCG) during the fourth quarter, HoldingsChannel.com reports. The fund purchased 409,939 shares of the utilities provider’s stock, valued at approximately $18,377,000.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ford Financial Group Inc. bought a new position in shares of PG&E during the fourth quarter worth $110,000. Bronfman E.L. Rothschild L.P. boosted its position in shares of PG&E by 122.1% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 2,463 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 1,354 shares in the last quarter. Bank of Stockton bought a new position in shares of PG&E during the third quarter worth $224,000. Stuart Chaussee & Associates Inc. bought a new position in shares of PG&E during the fourth quarter worth $214,000. Finally, Blue Sky Asset Management LLC bought a new position in shares of PG&E during the fourth quarter worth $222,000. 81.19% of the stock is currently owned by institutional investors.
Shares of PG&E Co. (PCG) opened at $45.10 on Wednesday. The company has a market cap of $23,200.00, a price-to-earnings ratio of 12.92, a P/E/G ratio of 2.67 and a beta of 0.07. PG&E Co. has a 52-week low of $37.30 and a 52-week high of $71.57. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.88 and a quick ratio of 0.81.
In other PG&E news, COO Nickolas Stavropoulos sold 4,728 shares of PG&E stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total value of $198,245.04. Following the sale, the chief operating officer now directly owns 82,830 shares in the company, valued at approximately $3,473,061.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP John R. Simon sold 3,211 shares of PG&E stock in a transaction on Tuesday, March 6th. The shares were sold at an average price of $41.93, for a total transaction of $134,637.23. The disclosure for this sale can be found here. Insiders sold a total of 8,875 shares of company stock worth $372,129 over the last ninety days. 0.15% of the stock is currently owned by insiders.
A number of equities analysts have recently weighed in on PCG shares. Mizuho cut shares of PG&E from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $54.24 to $55.00 in a research report on Friday, December 1st. Citigroup reissued a “neutral” rating on shares of PG&E in a research report on Monday, December 18th. Wells Fargo & Co cut shares of PG&E from an “outperform” rating to a “market perform” rating in a research report on Monday, December 18th. Royal Bank of Canada cut shares of PG&E from an “outperform” rating to a “sector perform” rating in a research report on Thursday, December 21st. Finally, Deutsche Bank reissued a “buy” rating and set a $61.00 price target on shares of PG&E in a research report on Thursday, December 21st. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $57.71.
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PG&E Company Profile
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.
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