Wealth Enhancement Advisory Services LLC Raises Holdings in PG&E Co. (NYSE:PCG)

Wealth Enhancement Advisory Services LLC raised its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 35.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 106,585 shares of the utilities provider's stock after acquiring an additional 27,873 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in PG&E were worth $2,151,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Greenleaf Trust raised its position in PG&E by 5.9% in the fourth quarter. Greenleaf Trust now owns 15,542 shares of the utilities provider's stock valued at $314,000 after purchasing an additional 872 shares during the period. Retirement Systems of Alabama grew its stake in shares of PG&E by 2.1% in the fourth quarter. Retirement Systems of Alabama now owns 473,332 shares of the utilities provider's stock valued at $9,552,000 after buying an additional 9,716 shares in the last quarter. Yousif Capital Management LLC grew its stake in shares of PG&E by 11.3% in the fourth quarter. Yousif Capital Management LLC now owns 325,483 shares of the utilities provider's stock valued at $6,568,000 after buying an additional 33,042 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of PG&E by 29.2% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,548 shares of the utilities provider's stock valued at $3,777,000 after buying an additional 42,426 shares during the period. Finally, Choreo LLC lifted its stake in PG&E by 13.2% during the 4th quarter. Choreo LLC now owns 23,401 shares of the utilities provider's stock worth $471,000 after acquiring an additional 2,732 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Down 6.8%

Shares of PCG traded down $1.07 during midday trading on Monday, reaching $14.58. The stock had a trading volume of 60,947,957 shares, compared to its average volume of 17,101,516. The company has a market cap of $38.99 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.09 and a beta of 0.60. The company's fifty day simple moving average is $16.90 and its two-hundred day simple moving average is $17.45. PG&E Co. has a 1-year low of $14.57 and a 1-year high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

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

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, June 30th. PG&E's payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PCG. UBS Group downgraded PG&E from a "buy" rating to a "neutral" rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim raised their price objective on shares of PG&E from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Mizuho increased their target price on shares of PG&E from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Evercore ISI boosted their price target on shares of PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $20.75.

Insider Activity at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the firm'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 sale, the executive vice president now owns 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by corporate 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.