Envestnet Asset Management Inc. Acquires 57,504 Shares of PG&E Co. (NYSE:PCG)

Envestnet Asset Management Inc. increased its holdings in shares of PG&E Co. (NYSE:PCG – Get Rating) by 33.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 230,485 shares of the utilities provider’s stock after acquiring an additional 57,504 shares during the period. Envestnet Asset Management Inc.’s holdings in PG&E were worth $2,752,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signaturefd LLC increased its position in PG&E by 66.0% during the 1st quarter. Signaturefd LLC now owns 2,135 shares of the utilities provider’s stock valued at $25,000 after buying an additional 849 shares in the last quarter. Profund Advisors LLC increased its holdings in shares of PG&E by 1.8% during the fourth quarter. Profund Advisors LLC now owns 54,656 shares of the utilities provider’s stock valued at $664,000 after acquiring an additional 950 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its position in shares of PG&E by 5.5% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 19,676 shares of the utilities provider’s stock worth $239,000 after purchasing an additional 1,027 shares during the last quarter. Raymond James & Associates boosted its stake in PG&E by 0.5% in the 4th quarter. Raymond James & Associates now owns 234,091 shares of the utilities provider’s stock worth $2,842,000 after purchasing an additional 1,189 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. grew its position in PG&E by 53.8% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,414 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 1,194 shares during the last quarter. Hedge funds and other institutional investors own 75.20% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCG. UBS Group upped their target price on shares of PG&E to $18.00 in a research note on Friday, June 3rd. Barclays cut their target price on PG&E from $17.00 to $16.00 and set an “overweight” rating on the stock in a research note on Monday, July 18th. Seaport Res Ptn restated a “neutral” rating on shares of PG&E in a research note on Monday, June 13th. Morgan Stanley dropped their price objective on PG&E from $14.00 to $13.50 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Finally, Credit Suisse Group decreased their target price on PG&E from $17.00 to $15.00 and set an “outperform” rating for the company in a research report on Thursday, July 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $16.10.

PG&E Price Performance

PG&E stock opened at $12.39 on Wednesday. PG&E Co. has a one year low of $8.75 and a one year high of $13.19. The stock has a fifty day moving average of $10.63 and a 200 day moving average of $11.47. The company has a debt-to-equity ratio of 2.01, a quick ratio of 0.73 and a current ratio of 0.78. The stock has a market cap of $30.55 billion, a PE ratio of 206.50, a price-to-earnings-growth ratio of 4.42 and a beta of 1.22.

PG&E (NYSE:PCG – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The utilities provider reported $0.25 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.03). The business had revenue of $5.12 billion for the quarter, compared to analysts’ expectations of $5.63 billion. PG&E had a net margin of 1.03% and a return on equity of 10.56%. PG&E’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. As a group, sell-side analysts predict that PG&E Co. will post 1.09 EPS for the current year.

PG&E Profile

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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.

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