PG&E Co. (NYSE:PCG) Stake Boosted by Point72 Asset Management L.P.

Point72 Asset Management L.P. increased its holdings in PG&E Co. (NYSE:PCG) by 180.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,631,345 shares of the utilities provider’s stock after purchasing an additional 2,335,400 shares during the period. Point72 Asset Management L.P.’s holdings in PG&E were worth $42,523,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of PCG. Freedman Financial Associates Inc. bought a new stake in PG&E in the fourth quarter worth $32,000. Global Retirement Partners LLC boosted its holdings in PG&E by 153.7% during the first quarter. Global Retirement Partners LLC now owns 2,768 shares of the utilities provider’s stock valued at $32,000 after acquiring an additional 1,677 shares during the period. Captrust Financial Advisors raised its position in shares of PG&E by 656.4% during the first quarter. Captrust Financial Advisors now owns 6,142 shares of the utilities provider’s stock valued at $72,000 after buying an additional 5,330 shares during the last quarter. Eaton Vance Management acquired a new position in shares of PG&E during the first quarter valued at about $92,000. Finally, Guardian Wealth Advisors LLC acquired a new position in shares of PG&E during the first quarter valued at about $123,000. Hedge funds and other institutional investors own 70.59% of the company’s stock.

PCG opened at $9.52 on Thursday. PG&E Co. has a one year low of $8.74 and a one year high of $12.91. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.74 and a quick ratio of 0.70. The firm’s 50 day moving average is $10.23. The company has a market capitalization of $18.90 billion, a PE ratio of -2.68, a P/E/G ratio of 3.72 and a beta of 1.39.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, April 29th. The utilities provider reported $0.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.05). PG&E had a negative net margin of 8.26% and a positive return on equity of 11.48%. The business had revenue of $4.72 billion during the quarter, compared to the consensus estimate of $4.76 billion. As a group, sell-side analysts anticipate that PG&E Co. will post 1.01 EPS for the current fiscal year.

A number of brokerages have recently commented on PCG. Wells Fargo & Company raised shares of PG&E from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $12.00 to $15.50 in a research report on Monday, May 3rd. Morgan Stanley increased their price target on shares of PG&E from $13.00 to $14.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 20th. Mizuho increased their price target on shares of PG&E from $15.00 to $16.00 and gave the stock a “buy” rating in a research report on Friday, May 14th. Zacks Investment Research raised shares of PG&E from a “sell” rating to a “hold” rating and set a $11.00 price target for the company in a research report on Monday, June 21st. Finally, Barclays dropped their price target on shares of PG&E from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 25th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $13.94.

About PG&E

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.

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

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