Exchange Traded Concepts LLC Grows Position in PG&E Co. (NYSE:PCG)

Exchange Traded Concepts LLC lifted its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 4,665.9% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 297,390 shares of the utilities provider's stock after purchasing an additional 291,150 shares during the quarter. Exchange Traded Concepts LLC's holdings in PG&E were worth $5,109,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCG. True Wealth Design LLC grew its position in shares of PG&E by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after buying an additional 1,690 shares during the period. Colonial Trust Co SC boosted its stake in PG&E by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after acquiring an additional 1,627 shares in the last quarter. Versant Capital Management Inc grew its holdings in PG&E by 124.9% in the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock worth $60,000 after purchasing an additional 1,927 shares during the period. Optiver Holding B.V. increased its stake in shares of PG&E by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 825 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of PG&E by 30.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider's stock valued at $89,000 after purchasing an additional 1,203 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Down 4.9%

Shares of PG&E stock opened at $13.60 on Monday. PG&E Co. has a twelve month low of $13.52 and a twelve month high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company's 50 day moving average is $16.72 and its 200 day moving average is $17.25. The company has a market cap of $36.39 billion, a price-to-earnings ratio of 11.83, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the previous year, the company earned $0.37 earnings per share. PG&E's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Monday, June 30th. PG&E's dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analysts Forecast Growth

PCG has been the topic of several recent research reports. Jefferies Financial Group upped their price target on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. BMO Capital Markets reduced their price target on PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Morgan Stanley set a $18.00 price target on PG&E and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Evercore ISI increased their price objective on shares of PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a research report on Monday, April 28th. Finally, Guggenheim lifted their target price on shares of PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.73.

Insider Buying and Selling

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.

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