Traders Sell PG&E (PCG) on Strength (PCG)
Investors sold shares of PG&E Co. (NYSE:PCG) on strength during trading on Thursday. $35.91 million flowed into the stock on the tick-up and $91.17 million flowed out of the stock on the tick-down, for a money net flow of $55.26 million out of the stock. Of all stocks tracked, PG&E had the 3rd highest net out-flow for the day. PG&E traded up $0.13 for the day and closed at $44.81
Several analysts recently issued reports on PCG shares. Evercore ISI decreased their price objective on shares of PG&E from $66.00 to $61.00 in a report on Monday, October 16th. Royal Bank of Canada reaffirmed a “buy” rating and set a $70.00 price objective on shares of PG&E in a report on Monday, September 18th. ValuEngine raised shares of PG&E from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Mizuho reaffirmed a “buy” rating and set a $78.00 price objective on shares of PG&E in a report on Monday, October 9th. Finally, Goldman Sachs Group downgraded shares of PG&E from a “conviction-buy” rating to a “buy” rating and set a $65.00 price objective for the company. in a report on Monday, October 16th. Nine investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $63.69.
The company has a market cap of $23,140.00, a P/E ratio of 10.30, a P/E/G ratio of 2.82 and a beta of 0.14. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85.
In related news, VP David S. Thomason sold 700 shares of the company’s stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $56.82, for a total transaction of $39,774.00. Following the completion of the transaction, the vice president now directly owns 6,657 shares in the company, valued at approximately $378,250.74. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.15% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Blair William & Co. IL raised its stake in PG&E by 7.4% during the 2nd quarter. Blair William & Co. IL now owns 4,315 shares of the utilities provider’s stock valued at $286,000 after purchasing an additional 298 shares during the last quarter. Piedmont Investment Advisors LLC raised its stake in shares of PG&E by 0.9% in the 3rd quarter. Piedmont Investment Advisors LLC now owns 110,358 shares of the utilities provider’s stock valued at $7,514,000 after buying an additional 1,022 shares in the last quarter. Calamos Advisors LLC raised its stake in shares of PG&E by 2.7% in the 2nd quarter. Calamos Advisors LLC now owns 64,545 shares of the utilities provider’s stock valued at $4,284,000 after buying an additional 1,673 shares in the last quarter. Xact Kapitalforvaltning AB raised its stake in shares of PG&E by 5.4% in the 3rd quarter. Xact Kapitalforvaltning AB now owns 41,992 shares of the utilities provider’s stock valued at $2,859,000 after buying an additional 2,148 shares in the last quarter. Finally, Bank of Stockton acquired a new position in shares of PG&E in the 3rd quarter valued at $224,000. Hedge funds and other institutional investors own 81.07% of the company’s stock.
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PG&E Company Profile
PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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