Tidal Investments LLC Buys 2,527 Shares of PG&E Co. (NYSE:PCG)

Tidal Investments LLC increased its position in PG&E Co. (NYSE:PCG) by 4.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 55,938 shares of the utilities provider’s stock after purchasing an additional 2,527 shares during the quarter. Tidal Investments LLC’s holdings in PG&E were worth $1,106,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Ballentine Partners LLC grew its position in shares of PG&E by 3.1% during the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after buying an additional 666 shares in the last quarter. Commerce Bank grew its holdings in PG&E by 1.5% during the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 712 shares in the last quarter. Continuum Advisory LLC increased its position in PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 769 shares during the period. Alta Advisers Ltd raised its holdings in shares of PG&E by 19.5% in the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 800 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its position in shares of PG&E by 2.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Mizuho lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Jefferies Financial Group began coverage on PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Barclays dropped their price objective on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday. Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and an average price target of $22.80.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.15% of the stock is owned by insiders.

PG&E Trading Up 1.1 %

Shares of PG&E stock opened at $19.42 on Friday. The firm’s 50 day simple moving average is $20.51 and its two-hundred day simple moving average is $19.28. The firm has a market capitalization of $50.79 billion, a price-to-earnings ratio of 15.17, a PEG ratio of 1.51 and a beta of 1.01. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.72. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the firm earned $0.24 EPS. The firm’s revenue was up .9% on a year-over-year basis. Analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.025 per share. This is an increase from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.51%. PG&E’s payout ratio is 7.81%.

PG&E Company Profile

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.