Levin Capital Strategies L.P. Acquires 20,638 Shares of PG&E Co. (NYSE:PCG)

Levin Capital Strategies L.P. lifted its holdings in shares of PG&E Co. (NYSE:PCG) by 1.4% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,461,267 shares of the utilities provider’s stock after purchasing an additional 20,638 shares during the period. PG&E accounts for about 2.8% of Levin Capital Strategies L.P.’s portfolio, making the stock its 11th biggest position. Levin Capital Strategies L.P.’s holdings in PG&E were worth $26,347,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Commonwealth Equity Services LLC boosted its holdings in PG&E by 3.3% in the third quarter. Commonwealth Equity Services LLC now owns 35,804 shares of the utilities provider’s stock worth $578,000 after acquiring an additional 1,156 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its position in shares of PG&E by 26.4% during the third quarter. Chevy Chase Trust Holdings LLC now owns 1,175,494 shares of the utilities provider’s stock valued at $18,961,000 after acquiring an additional 245,509 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of PG&E by 50.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 57,852 shares of the utilities provider’s stock valued at $933,000 after acquiring an additional 19,480 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of PG&E by 10.5% during the third quarter. Robeco Institutional Asset Management B.V. now owns 220,390 shares of the utilities provider’s stock valued at $3,555,000 after acquiring an additional 20,867 shares during the last quarter. Finally, Raymond James & Associates increased its position in shares of PG&E by 14.8% during the third quarter. Raymond James & Associates now owns 792,097 shares of the utilities provider’s stock valued at $12,777,000 after acquiring an additional 102,171 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 1.3 %

Shares of PCG traded up $0.22 during trading hours on Thursday, hitting $17.63. The company had a trading volume of 5,905,460 shares, compared to its average volume of 15,369,398. The firm has a market cap of $37.68 billion, a P/E ratio of 15.54 and a beta of 1.26. The stock’s 50 day moving average price is $16.62 and its 200 day moving average price is $16.92. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.32.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.29 earnings per share. On average, research analysts predict that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. PG&E’s dividend payout ratio is presently 3.57%.

Analysts Set New Price Targets

A number of analysts recently commented on PCG shares. JPMorgan Chase & Co. increased their price target on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research report on Tuesday, April 23rd. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays raised their price target on PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, The Goldman Sachs Group began coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

PG&E 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.