PG&E Co. (NYSE:PCG) Shares Purchased by Ballentine Partners LLC

Ballentine Partners LLC increased its position in shares of PG&E Co. (NYSE:PCG) by 9.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,641 shares of the utilities provider’s stock after purchasing an additional 2,183 shares during the quarter. Ballentine Partners LLC’s holdings in PG&E were worth $487,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. IFM Investors Pty Ltd grew its holdings in shares of PG&E by 9.0% during the third quarter. IFM Investors Pty Ltd now owns 767,668 shares of the utilities provider’s stock worth $15,177,000 after buying an additional 63,489 shares in the last quarter. Ausbil Investment Management Ltd raised its holdings in PG&E by 6.0% in the 3rd quarter. Ausbil Investment Management Ltd now owns 342,231 shares of the utilities provider’s stock valued at $6,766,000 after acquiring an additional 19,220 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of PG&E by 4,623.1% in the third quarter. International Assets Investment Management LLC now owns 34,006 shares of the utilities provider’s stock valued at $672,000 after purchasing an additional 33,286 shares during the last quarter. Commerzbank Aktiengesellschaft FI purchased a new position in shares of PG&E during the 3rd quarter worth $230,000. Finally, Signaturefd LLC raised its stake in PG&E by 9.8% during the third quarter. Signaturefd LLC now owns 11,280 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 1,009 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group raised their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays lifted their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Bank of America began coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Morgan Stanley upped their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Stock Performance

NYSE PCG opened at $20.36 on Monday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The company 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 two-hundred day moving average of $18.49. PG&E Co. has a 1-year low of $15.59 and a 1-year high of $20.93.

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

PG&E Announces Dividend

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