Geode Capital Management LLC Buys 609,373 Shares of PG&E Co. (NYSE:PCG)

Geode Capital Management LLC raised its stake in shares of PG&E Co. (NYSE:PCG) by 3.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,485,773 shares of the utilities provider’s stock after buying an additional 609,373 shares during the period. Geode Capital Management LLC owned 0.75% of PG&E worth $187,715,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund raised its holdings in PG&E by 4.4% during the second quarter. Oregon Public Employees Retirement Fund now owns 545,747 shares of the utilities provider’s stock valued at $5,550,000 after buying an additional 23,030 shares in the last quarter. Asset Management One Co. Ltd. increased its stake in shares of PG&E by 6.4% in the second quarter. Asset Management One Co. Ltd. now owns 793,663 shares of the utilities provider’s stock worth $8,071,000 after purchasing an additional 47,639 shares during the period. Price T Rowe Associates Inc. MD increased its stake in shares of PG&E by 7.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 35,713,903 shares of the utilities provider’s stock worth $418,210,000 after purchasing an additional 2,477,563 shares during the period. Putnam Investments LLC increased its stake in shares of PG&E by 12.3% in the first quarter. Putnam Investments LLC now owns 2,357,223 shares of the utilities provider’s stock worth $27,603,000 after purchasing an additional 258,338 shares during the period. Finally, Panagora Asset Management Inc. increased its stake in shares of PG&E by 92.6% in the first quarter. Panagora Asset Management Inc. now owns 145,724 shares of the utilities provider’s stock worth $1,706,000 after purchasing an additional 70,044 shares during the period. Institutional investors own 58.94% of the company’s stock.

PCG stock opened at $10.50 on Thursday. PG&E Co. has a twelve month low of $8.24 and a twelve month high of $12.91. The company has a market cap of $25.86 billion, a PE ratio of 28.38, a price-to-earnings-growth ratio of 3.69 and a beta of 1.39. The business’s 50-day simple moving average is $9.50 and its 200 day simple moving average is $10.12. The company has a quick ratio of 0.63, a current ratio of 0.66 and a debt-to-equity ratio of 1.65.

PG&E (NYSE:PCG) last released its earnings results on Thursday, July 29th. The utilities provider reported $0.27 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.01). The firm had revenue of $5.22 billion for the quarter, compared to analyst estimates of $4.95 billion. PG&E had a return on equity of 9.22% and a net margin of 4.14%. During the same period last year, the business earned $1.03 earnings per share. On average, equities research analysts anticipate that PG&E Co. will post 1 EPS for the current year.

A number of research firms have recently commented on PCG. Morgan Stanley dropped their price objective on PG&E from $10.50 to $10.00 and set an “equal weight” rating on the stock in a research note on Friday, September 17th. Royal Bank of Canada upgraded PG&E from a “sector perform” rating to an “outperform” rating and set a $14.00 price objective on the stock in a research note on Monday, August 16th. Finally, Zacks Investment Research upgraded PG&E from a “sell” rating to a “hold” rating and set a $11.00 price objective on the stock in a research note on Monday, June 21st. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $13.64.

In related news, Director Robert C. Flexon acquired 10,000 shares of the firm’s stock in a transaction on Wednesday, September 1st. The shares were bought at an average cost of $9.28 per share, with a total value of $92,800.00. Following the completion of the acquisition, the director now owns 51,299 shares of the company’s stock, valued at $476,054.72. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.14% of the stock is currently owned by insiders.

PG&E Profile

PG&E Corp. is 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 San Francisco, CA.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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