5,807 Shares in PG&E Co. (NYSE:PCG) Purchased by Brooklyn Investment Group

Brooklyn Investment Group acquired a new position in PG&E Co. (NYSE:PCG) during the third quarter, Holdings Channel.com reports. The institutional investor acquired 5,807 shares of the utilities provider’s stock, valued at approximately $115,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC raised its position in PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the period. King Street Capital Management L.P. purchased a new stake in PG&E in the 2nd quarter worth about $1,964,250,000. Massachusetts Financial Services Co. MA raised its position in PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. Bank of Montreal Can increased its position in shares of PG&E by 1.8% during the third quarter. Bank of Montreal Can now owns 13,566,330 shares of the utilities provider’s stock worth $268,885,000 after acquiring an additional 246,164 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of PG&E by 1.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 11,559,875 shares of the utilities provider’s stock worth $228,539,000 after acquiring an additional 119,866 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of research reports. Barclays raised their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. 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 target price on the stock. Morgan Stanley boosted their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Mizuho boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.10.

PG&E Price Performance

Shares of PCG opened at $21.63 on Thursday. The firm has a market capitalization of $56.57 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.72. The company’s fifty day moving average price is $20.33 and its 200-day moving average price is $19.07.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.24 earnings per share. On average, equities research analysts predict 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 issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

PG&E 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.