Forsta AP Fonden Boosts Holdings in PG&E Co. (NYSE:PCG)

Forsta AP Fonden grew its position in PG&E Co. (NYSE:PCG) by 15.2% during the 3rd quarter, Holdings Channel.com reports. The firm owned 387,600 shares of the utilities provider’s stock after purchasing an additional 51,100 shares during the period. Forsta AP Fonden’s holdings in PG&E were worth $7,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC purchased a new position in PG&E during the 2nd quarter worth $30,000. UMB Bank n.a. boosted its holdings in PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in shares of PG&E during the second quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV increased its holdings in shares of PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 1,179 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on PCG. Morgan Stanley raised their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. UBS Group raised their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Barclays boosted their price target on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Finally, Wells Fargo & Company upped their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Stock Down 1.5 %

Shares of PCG stock opened at $20.36 on Monday. PG&E Co. has a twelve month low of $15.59 and a twelve month high of $20.93. The stock has a market cap of $58.62 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.58 and a beta of 1.01. The stock has a 50 day moving average of $19.77 and a 200 day moving average of $18.49. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period in the previous year, the firm earned $0.23 EPS. The business’s quarterly revenue was up 13.2% on a year-over-year basis. As a group, sell-side analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. PG&E’s payout ratio is 3.57%.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.