IHT Wealth Management LLC Invests $262,000 in PG&E Co. (NYSE:PCG)

IHT Wealth Management LLC purchased a new position in shares of PG&E Co. (NYSE:PCG) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 13,223 shares of the utilities provider’s stock, valued at approximately $262,000.

A number of other institutional investors also recently added to or reduced their stakes in PCG. Rothschild Investment LLC acquired a new stake in PG&E in the second quarter worth about $30,000. UMB Bank n.a. lifted its stake in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. lifted its stake in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,027 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the 2nd quarter worth approximately $44,000. Finally, Crewe Advisors LLC lifted its stake in shares of PG&E by 243.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock worth $71,000 after acquiring an additional 2,863 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Activity

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.

PG&E Price Performance

Shares of NYSE:PCG opened at $19.88 on Wednesday. The company’s fifty day moving average is $20.52 and its two-hundred day moving average is $19.23. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.72. The company has a market cap of $51.99 billion, a P/E ratio of 15.53, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.24 earnings per share. Equities analysts expect that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be issued a $0.025 dividend. This is an increase from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.50%. PG&E’s dividend payout ratio is currently 7.81%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCG. Bank of America assumed coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Barclays upped their price target on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. UBS Group upped their price target on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group began coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $23.10.

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.