Venturi Wealth Management LLC Has $754,000 Position in PG&E Co. (NYSE:PCG)

Venturi Wealth Management LLC lowered its stake in PG&E Co. (NYSE:PCG) by 3.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 37,376 shares of the utilities provider’s stock after selling 1,441 shares during the quarter. Venturi Wealth Management LLC’s holdings in PG&E were worth $754,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PCG. FMR LLC grew its holdings in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the period. State Street Corp grew its holdings in PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares during the period. Brookfield Corp ON grew its holdings in PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after acquiring an additional 3,958,495 shares during the period. Massachusetts Financial Services Co. MA grew its holdings in PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its holdings in PG&E by 91.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after acquiring an additional 1,920,734 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Up 1.7 %

PCG opened at $15.68 on Thursday. The stock has a market capitalization of $41.89 billion, a P/E ratio of 13.64, a P/E/G ratio of 1.07 and a beta of 0.99. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The firm’s fifty day simple moving average is $17.66 and its 200 day simple moving average is $19.14. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the firm posted $0.47 EPS. As a group, research analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the subject of a number of analyst reports. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Morgan Stanley cut shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. UBS Group reduced their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. BMO Capital Markets lifted their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.