Quantbot Technologies LP Raises Position in PG&E Co. (NYSE:PCG)

Quantbot Technologies LP boosted its position in shares of PG&E Co. (NYSE:PCG) by 117.0% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 264,726 shares of the utilities provider’s stock after buying an additional 142,754 shares during the period. Quantbot Technologies LP’s holdings in PG&E were worth $4,622,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC acquired a new stake in shares of PG&E in the second quarter valued at about $30,000. UMB Bank n.a. raised its holdings in PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,011 shares during the last quarter. Blue Trust Inc. raised its holdings in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 1,027 shares during the last quarter. Vima LLC purchased a new position in PG&E in the 4th quarter worth approximately $41,000. Finally, Plato Investment Management Ltd acquired a new position in shares of PG&E during the 2nd quarter worth approximately $44,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PCG opened at $20.01 on Tuesday. The stock’s 50-day moving average price is $18.66 and its 200 day moving average price is $17.79. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $20.65. The firm has a market cap of $52.32 billion, a price-to-earnings ratio of 17.86 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The business had revenue of $5.99 billion for the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.23 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.35 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on PCG. UBS Group increased their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Wells Fargo & Company raised their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Barclays boosted their price target on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Citigroup raised their price objective on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $22.00 in a report on Monday, June 10th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.45.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

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.