PG&E Co. (NYSE:PCG) Holdings Raised by IFM Investors Pty Ltd

IFM Investors Pty Ltd boosted its stake in PG&E Co. (NYSE:PCG) by 9.0% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 767,668 shares of the utilities provider’s stock after buying an additional 63,489 shares during the period. IFM Investors Pty Ltd’s holdings in PG&E were worth $15,177,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Rothschild Investment LLC bought a new position in shares of PG&E in the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its position 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 purchasing an additional 1,011 shares during the period. Blue Trust Inc. boosted its stake in PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new position in shares of PG&E during the 2nd quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Up 0.5 %

Shares of NYSE:PCG opened at $20.68 on Friday. The firm has a 50 day simple moving average of $19.73 and a 200 day simple moving average of $18.45. PG&E Co. has a 52 week low of $15.59 and a 52 week high of $20.81. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The company has a market cap of $54.08 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.

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

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. PG&E’s payout ratio is presently 3.42%.

Insider Buying and Selling at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PCG shares. UBS Group lifted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Barclays increased their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday. Wells Fargo & Company raised their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Two research 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.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

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.