Traders Buy Shares of PG&E (PCG) on Weakness

Traders purchased shares of PG&E Co. (NYSE:PCG) on weakness during trading hours on Thursday. $582.62 million flowed into the stock on the tick-up and $508.96 million flowed out of the stock on the tick-down, for a money net flow of $73.66 million into the stock. Of all stocks tracked, PG&E had the 6th highest net in-flow for the day. PG&E traded down ($6.62) for the day and closed at $44.50

Several research analysts have recently weighed in on PCG shares. Barclays boosted their target price on PG&E from $69.00 to $72.00 and gave the stock an “overweight” rating in a report on Friday, September 22nd. Mizuho restated a “buy” rating and set a $78.00 target price on shares of PG&E in a report on Monday, October 9th. Zacks Investment Research upgraded PG&E from a “hold” rating to a “buy” rating and set a $63.00 target price on the stock in a report on Monday, November 6th. Royal Bank of Canada cut PG&E from an “outperform” rating to a “sector perform” rating in a report on Thursday. Finally, J P Morgan Chase & Co boosted their target price on PG&E from $74.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $65.38.

The firm has a market capitalization of $26,775.71, a price-to-earnings ratio of 11.91, a P/E/G ratio of 3.30 and a beta of 0.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, November 2nd. The utilities provider reported $1.12 EPS for the quarter, beating analysts’ consensus estimates of $0.94 by $0.18. PG&E had a return on equity of 11.94% and a net margin of 12.59%. The firm had revenue of $4.52 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the prior year, the firm posted $0.94 earnings per share. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. sell-side analysts forecast that PG&E Co. will post 3.69 earnings per share for the current fiscal year.

In related news, VP David S. Thomason sold 700 shares of the company’s stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $56.82, for a total value of $39,774.00. Following the transaction, the vice president now directly owns 6,657 shares in the company, valued at $378,250.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Blair William & Co. IL lifted its stake in PG&E by 7.4% during the second quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock worth $286,000 after purchasing an additional 298 shares in the last quarter. Piedmont Investment Advisors LLC lifted its stake in PG&E by 0.9% during the third quarter. Piedmont Investment Advisors LLC now owns 110,358 shares of the utilities provider’s stock worth $7,514,000 after purchasing an additional 1,022 shares in the last quarter. Parallel Advisors LLC lifted its stake in PG&E by 15.5% during the second quarter. Parallel Advisors LLC now owns 8,573 shares of the utilities provider’s stock worth $580,000 after purchasing an additional 1,150 shares in the last quarter. Calamos Advisors LLC lifted its stake in PG&E by 2.7% during the second quarter. Calamos Advisors LLC now owns 64,545 shares of the utilities provider’s stock worth $4,284,000 after purchasing an additional 1,673 shares in the last quarter. Finally, Xact Kapitalforvaltning AB lifted its stake in PG&E by 5.4% during the third quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock worth $2,859,000 after purchasing an additional 2,148 shares in the last quarter. Hedge funds and other institutional investors own 81.07% of the company’s stock.

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About PG&E

PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.

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