Fmr LLC Raises Stake in PG&E Co. (NYSE:PCG)

Fmr LLC increased its stake in shares of PG&E Co. (NYSE:PCG) by 5.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 176,839,426 shares of the utilities provider’s stock after buying an additional 8,604,396 shares during the period. Fmr LLC owned about 0.07% of PG&E worth $3,496,115,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new stake in shares of PG&E during the 2nd quarter worth approximately $30,000. UMB Bank n.a. increased 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 buying an additional 1,011 shares during the last quarter. Blue Trust Inc. raised its stake in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new position in shares of PG&E during the 2nd quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in shares of PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 1,179 shares during the period. Institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

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

PG&E Trading Down 0.9 %

PG&E stock opened at $21.19 on Tuesday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.51. The stock has a market cap of $55.40 billion, a P/E ratio of 16.55, a PEG ratio of 1.64 and a beta of 1.03. The firm’s fifty day moving average price is $20.29 and its 200-day moving average price is $19.04.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the previous year, the business earned $0.24 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.13%.

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.