Weiss Asset Management LP acquired a new stake in PG&E Co. (NYSE:PCG) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 23,398 shares of the utilities provider’s stock, valued at approximately $536,000.

Several other hedge funds have also made changes to their positions in PCG. King Street Capital Management L.P. increased its position in shares of PG&E by 400.0% during the 2nd quarter. King Street Capital Management L.P. now owns 5,000,000 shares of the utilities provider’s stock worth $114,600,000 after purchasing an additional 4,000,000 shares in the last quarter. Attestor Capital LLP increased its position in shares of PG&E by 3.0% during the 2nd quarter. Attestor Capital LLP now owns 8,518,514 shares of the utilities provider’s stock worth $195,244,000 after purchasing an additional 250,000 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in shares of PG&E by 473.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 363,987 shares of the utilities provider’s stock worth $8,343,000 after purchasing an additional 300,486 shares in the last quarter. MUFG Securities EMEA plc acquired a new stake in shares of PG&E during the 2nd quarter worth about $5,730,000. Finally, Cibc World Markets Corp acquired a new stake in shares of PG&E during the 2nd quarter worth about $9,954,000. Institutional investors own 90.55% of the company’s stock.

PCG has been the subject of a number of recent analyst reports. UBS Group dropped their target price on shares of PG&E from $24.00 to $13.00 and set a “neutral” rating for the company in a research report on Tuesday, August 20th. Citigroup upgraded shares of PG&E from a “sell” rating to a “neutral” rating and raised their price objective for the company from $4.00 to $12.00 in a research report on Monday. Evercore ISI set a $25.00 price objective on shares of PG&E and gave the company a “hold” rating in a research report on Monday, August 12th. Barclays set a $14.00 price objective on shares of PG&E and gave the company a “hold” rating in a research report on Thursday, August 22nd. Finally, Morgan Stanley set a $23.00 price objective on shares of PG&E and gave the company a “hold” rating in a research report on Monday, August 26th. Two investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and one has issued a buy rating to the company. PG&E presently has a consensus rating of “Hold” and a consensus target price of $19.13.

PCG traded down $0.21 during midday trading on Monday, hitting $10.97. The company had a trading volume of 182,990 shares, compared to its average volume of 9,363,502. The company has a debt-to-equity ratio of 0.20, a quick ratio of 1.92 and a current ratio of 2.03. The company has a market capitalization of $5.35 billion, a PE ratio of 2.75, a P/E/G ratio of 1.15 and a beta of 0.42. PG&E Co. has a twelve month low of $5.07 and a twelve month high of $49.42. The firm’s 50-day simple moving average is $14.16 and its 200-day simple moving average is $18.35.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Friday, August 9th. The utilities provider reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.99 by $0.11. The firm had revenue of $3.94 billion during the quarter, compared to analysts’ expectations of $4.30 billion. PG&E had a negative net margin of 53.07% and a positive return on equity of 15.16%. During the same quarter last year, the company posted $1.16 EPS. As a group, sell-side analysts anticipate that PG&E Co. will post 3.88 EPS for the current fiscal year.

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 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.

Further Reading: What is a Leveraged Buyout (LBO)?

Institutional Ownership by Quarter for PG&E (NYSE:PCG)

Receive News & Ratings for PG&E Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for PG&E and related companies with MarketBeat.com's FREE daily email newsletter.