Harvest Fund Management Co. Ltd Invests $130,000 in PG&E Co. (NYSE:PCG)

Harvest Fund Management Co. Ltd purchased a new position in PG&E Co. (NYSE:PCG) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 6,577 shares of the utilities provider’s stock, valued at approximately $130,000.

Several other large investors also recently bought and sold shares of the business. King Street Capital Management L.P. purchased a new position in shares of PG&E in the 2nd quarter worth $1,964,250,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of 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 valued at $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Bank of Montreal Can lifted its holdings in shares of PG&E by 4.1% in the 2nd quarter. Bank of Montreal Can now owns 13,320,166 shares of the utilities provider’s stock valued at $234,701,000 after acquiring an additional 526,645 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in PG&E by 1.0% in 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 in the last quarter. Finally, Artemis Investment Management LLP increased its stake in PG&E by 3.4% during the second quarter. Artemis Investment Management LLP now owns 6,873,401 shares of the utilities provider’s stock worth $120,010,000 after acquiring an additional 223,942 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on PCG. Morgan Stanley increased their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Mizuho increased their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday. Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Bank of America started coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Finally, Barclays raised their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average price target of $23.10.

PG&E Trading Up 0.6 %

NYSE:PCG opened at $21.63 on Thursday. The firm has a 50-day simple moving average of $20.33 and a 200-day simple moving average of $19.07. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The firm has a market cap of $56.57 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.63 and a beta of 1.03. 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 (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. PG&E’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.24 earnings per share. Equities analysts anticipate that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors 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 0.18%. PG&E’s payout ratio is 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.