Raymond James Financial Inc. Makes New $24.77 Million Investment in PG&E Co. (NYSE:PCG)

Raymond James Financial Inc. acquired a new stake in PG&E Co. (NYSE:PCG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,227,460 shares of the utilities provider's stock, valued at approximately $24,770,000.

Several other institutional investors have also made changes to their positions in the stock. Orion Portfolio Solutions LLC raised its position in PG&E by 9.3% during the third quarter. Orion Portfolio Solutions LLC now owns 14,418 shares of the utilities provider's stock valued at $285,000 after purchasing an additional 1,232 shares in the last quarter. Barclays PLC lifted its stake in PG&E by 8.0% in the 3rd quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider's stock valued at $112,541,000 after purchasing an additional 420,133 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of PG&E during the third quarter worth $349,000. Tidal Investments LLC lifted its stake in shares of PG&E by 4.7% in the 3rd quarter. Tidal Investments LLC now owns 55,938 shares of the utilities provider's stock valued at $1,106,000 after acquiring an additional 2,527 shares during the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of PG&E by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider's stock valued at $346,443,000 after acquiring an additional 681,369 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PG&E

In other news, Director Arno Lockheart Harris bought 6,389 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

PG&E Stock Down 1.0 %

Shares of PCG traded down $0.18 on Thursday, hitting $17.37. 6,062,849 shares of the stock traded hands, compared to its average volume of 16,388,807. The company has a market capitalization of $46.39 billion, a PE ratio of 15.10, a P/E/G ratio of 1.09 and a beta of 0.70. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The business has a 50 day simple moving average of $16.60 and a 200 day simple moving average of $18.30.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.40 by ($0.07). The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. As a group, equities analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E's dividend payout ratio is 8.70%.

Analyst Ratings Changes

Several research analysts have recently issued reports on PCG shares. Barclays lowered their price objective on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. BMO Capital Markets decreased their price target on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group boosted their price target on shares of PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday. Finally, Guggenheim downgraded PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, PG&E currently has an average rating of "Moderate Buy" and a consensus target price of $21.75.

PG&E Profile

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.