SG Americas Securities LLC Has $520,000 Position in PG&E Co. (PCG)
SG Americas Securities LLC lessened its stake in shares of PG&E Co. (NYSE:PCG) by 86.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,214 shares of the utilities provider’s stock after selling 77,229 shares during the period. SG Americas Securities LLC’s holdings in PG&E were worth $520,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the stock. Victory Capital Management Inc. boosted its stake in PG&E by 1.1% during the 1st quarter. Victory Capital Management Inc. now owns 206,917 shares of the utilities provider’s stock valued at $9,090,000 after acquiring an additional 2,214 shares during the last quarter. Synovus Financial Corp bought a new position in PG&E during the 1st quarter valued at $125,000. ETRADE Capital Management LLC bought a new position in PG&E during the 1st quarter valued at $262,000. Signaturefd LLC bought a new position in PG&E during the 1st quarter valued at $152,000. Finally, Teacher Retirement System of Texas boosted its stake in PG&E by 120.5% during the 1st quarter. Teacher Retirement System of Texas now owns 312,220 shares of the utilities provider’s stock valued at $13,716,000 after acquiring an additional 170,602 shares during the last quarter. 81.43% of the stock is owned by institutional investors.
Shares of NYSE:PCG opened at $46.97 on Monday. The firm has a market cap of $23.74 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 2.91 and a beta of -0.07. PG&E Co. has a 1-year low of $37.30 and a 1-year high of $70.38. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.60 and a current ratio of 0.65.
In other PG&E news, COO Nickolas Stavropoulos sold 1,161 shares of the stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total transaction of $52,001.19. Following the sale, the chief operating officer now directly owns 78,223 shares of the company’s stock, valued at $3,503,608.17. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is currently owned by corporate insiders.
A number of research analysts have commented on the stock. Goldman Sachs Group set a $49.00 price objective on shares of PG&E and gave the company a “hold” rating in a research note on Friday. Bank of America increased their price objective on shares of PG&E from $43.00 to $50.00 and gave the company a “neutral” rating in a research note on Monday, July 9th. Citigroup reiterated a “hold” rating and set a $45.00 price objective (down from $46.00) on shares of PG&E in a research note on Friday, July 6th. Morgan Stanley upgraded shares of PG&E to an “overweight” rating in a research note on Wednesday, September 12th. Finally, Evercore ISI upgraded shares of PG&E from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $50.00 to $52.00 in a research note on Tuesday, September 4th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.69.
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.
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