PG&E (NYSE:PCG) Trading 10.3% Higher

PG&E Co. (NYSE:PCG)’s share price traded up 10.3% on Thursday . The company traded as high as $24.03 and last traded at $23.95. 7,155,941 shares were traded during mid-day trading, a decline of 57% from the average session volume of 16,647,244 shares. The stock had previously closed at $21.72.

A number of analysts recently weighed in on the stock. Wolfe Research lowered shares of PG&E from an “outperform” rating to a “peer perform” rating in a report on Friday. Morgan Stanley reaffirmed a “hold” rating on shares of PG&E in a report on Friday, June 21st. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company’s stock. PG&E presently has a consensus rating of “Hold” and an average target price of $24.12.

The stock has a fifty day simple moving average of $19.25. The company has a debt-to-equity ratio of 0.17, a quick ratio of 2.11 and a current ratio of 2.22. The firm has a market capitalization of $12.67 billion, a PE ratio of 5.73, a price-to-earnings-growth ratio of 2.75 and a beta of 0.04.

PG&E (NYSE:PCG) last released its earnings results on Thursday, May 2nd. The utilities provider reported $1.04 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.14. PG&E had a negative net margin of 42.76% and a positive return on equity of 13.30%. The firm had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.19 billion. On average, sell-side analysts forecast that PG&E Co. will post 3.87 EPS for the current year.

Several hedge funds have recently made changes to their positions in PCG. Mackenzie Financial Corp boosted its position in shares of PG&E by 19.9% in the fourth quarter. Mackenzie Financial Corp now owns 40,311 shares of the utilities provider’s stock worth $957,000 after buying an additional 6,690 shares during the period. Oregon Public Employees Retirement Fund lifted its stake in shares of PG&E by 37.8% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 299,326 shares of the utilities provider’s stock worth $7,109,000 after acquiring an additional 82,164 shares in the last quarter. Virginia Retirement Systems ET AL acquired a new position in shares of PG&E in the fourth quarter worth about $337,000. GAM Holding AG lifted its stake in shares of PG&E by 147.9% in the fourth quarter. GAM Holding AG now owns 24,298 shares of the utilities provider’s stock worth $577,000 after acquiring an additional 14,497 shares in the last quarter. Finally, Los Angeles Capital Management & Equity Research Inc. lifted its stake in shares of PG&E by 1,759.7% in the fourth quarter. Los Angeles Capital Management & Equity Research Inc. now owns 87,590 shares of the utilities provider’s stock worth $2,080,000 after acquiring an additional 82,880 shares in the last quarter. 88.71% of the stock is owned by institutional investors.

PG&E Company Profile (NYSE:PCG)

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 107,000 circuit miles of distribution lines, 50 transmission switching substations, and 769 distribution substations; and electricity transmission network comprises approximately 18,000 circuit miles of interconnected transmission lines and 84 electric transmission substations.

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