According to the most recent Form 13F filing that the company made with the Securities and Exchange Commission, during the third quarter, Lockheed Martin Investment Management Co. reduced its stake in PG&E Co. (NYSE: PCG) by 16.4%. The fund had 89,800 shares of the utility’s stock before the sale of 17,600 of those shares during the period in question. According to the most recent disclosure that Lockheed Martin Investment Management Co. made with the SEC, its holdings in PG&E were $1,124,000 at that time.
In the most recent few months, several well-known investors have changed the proportion of the company’s stock they currently own. Raymond James & Associates increased the amount of PG&E stock owned by a whopping 44.3% over the first three months of 2018. After purchasing 103,767 shares during the most recent quarter, Raymond James & Associates now owns 337,858 shares of the utilities provider’s stock, currently valued at $4,034,000. During the most recent quarter, the company made the purchase. Raymond James Financial Services Advisors Inc. increased the amount of PG&E stock owned by 86.2% during the first three months of 2018. Following the purchase of an additional 67,898 shares during the most recent quarter, Raymond James Financial Services Advisors Inc. now owns a total of 146,663 shares of the stock held by the utility provider. The current market value of these shares places their value at $1,751,000. American Century Companies Inc. increased the percentage of PG&E stock owned by 190.4 percent during the first three months of 2018. Following the acquisition of 120,468 shares during the most recent quarter, American Century Companies Inc. now holds a total of 183,755 shares of the stock held by the utility provider. These 183,755 shares are currently valued at a combined total of $2,194,000. The percentage of PG&E stock Cambridge Investment Research Advisors Inc. owned increased by 3.8% during the first three months of 2018. Cambridge Investment Research Advisors Inc. now has a total of 30,636 shares of the stock of the utility service provider, which has a market value of $366,000 after purchasing an additional 1,122 shares during the most recent fiscal quarter. And finally, during the first three months of 2018, Cetera Advisor Networks LLC spent $154,000 purchasing PG&E shares. This purchase was made from January through March. Institutional investors and hedge funds collectively own 83.63% of the total number of shares in the company, making them the company’s largest stockholders.
Thursday was the first-day trading could begin on the NYSE PCG, and the opening price was $15.61. A debt-to-equity ratio comes in at 2.13; a quick ratio comes in at 0.82; a current ratio comes in at 0.87; and a quick ratio comes in at 0.82. The company’s market value is $38.49 billion, and it has a price-to-earnings ratio of 19.04, a price-to-earnings-growth ratio of 5.08, and a beta value of 1.10. These metrics indicate that the company has adequate financial resources. During the previous year, PG&E Company’s stock price ranged from a low of $9.64 to a high of $16.49 at various points. The stock’s 200-day simple moving average price is $13.65; the current price of the stock, which is trading at $15.63, is higher than this average price.
The most recent earnings report for PG&E, traded on the NYSE under the symbol PCG, was released on October 27. The utility company’s earnings per share for the quarter came in at $0.29, which was $0.05 higher than the consensus expectation of $0.24. The earnings for the quarter were reported in U.S. dollars. In their financial statements, PG&E indicated a net margin of 8.21% and a return on equity of 10.92%. The company’s quarterly sales came in at $5.39 billion, significantly less than the $5.95 billion industry experts forecasted for the company’s sales. According to the forecasts provided by analysts working in this sector, PG&E Company should be able to generate earnings of $1.11 per share throughout the current financial year.
PG&E Fire Victim Trust, a major shareholder in the company, sold $60,000,000 of the company’s shares on January 9, bringing the total number of shares sold to 60,000,000 and the total amount of money from share sales to $60,000,000. The price of each share was averaged out to be $15.26, which resulted in the sale of the shares for a total of $915,600,000. As a result of the transaction, the company insider now owns 187,743,590 shares, which have a combined value of $2,864,967,183.40. If you follow this link, you will be taken to the filing submitted to the Securities and Exchange Commission, where the transaction was discussed, and it will take you there immediately. The company’s employees hold a total of 0.06% of the company’s equity, which is a very small percentage.
The PCG has been discussed in several reports compiled by research professionals. UBS Group lowered its rating on the shares of PG&E from “buy” to “neutral” and set a target price of $17.00 for the stock. The firm also set a price objective for the stock. On January 3, a Tuesday, a report was made available to the public. The Royal Bank of Canada rated PG&E as an “outperform” company in a report released on Friday, October 7, and raised their price objective on the company from $16.00 to $19.00. Both of these changes were made in response to the report’s publication. Morgan Stanley increased their price objective for PG&E from $12.50 to $14.00 and assigned the company an “equal weight” rating in a research report that was made public on Friday, November 11. In a research note made public on Friday, October 28, Citigroup announced that they were increasing their price objective for PG&E from $15.00 to $20.00. The previous price objective was $14.00. Last but certainly not least, Wells Fargo & Company stated in a research note published on Wednesday, December 14, that they would be increasing their price objective on PG&E by twenty dollars. This news came as part of the company’s announcement that it would buy PG&E stock. The stock has been rated “hold” by five market analysts, while a rating of “buy” has been assigned by another five analysts. According to information made available by Bloomberg, the company is currently rated as a “Moderate Buy” across the board, and analysts’ price targets average $17.44 for the company’s stock.
The production of electricity and natural gas, as well as the transmission and distribution of these resources to end users, are all within the purview of PG&E Corp. This holding company controls these businesses. It is an organization that focuses on issues relating to energy, utilities, power, gas, and electricity, as well as environmental issues and sustainability. The current location of the company’s headquarters is in San Francisco, which is found in the state of California. The company was established in 1995.