Tokio Marine Asset Management Co. Ltd. Grows Stock Position in PG&E Co. (NYSE:PCG)

Tokio Marine Asset Management Co. Ltd. grew its position in shares of PG&E Co. (NYSE:PCG) by 259.6% in the third quarter, HoldingsChannel reports. The firm owned 61,850 shares of the utilities provider’s stock after buying an additional 44,650 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in PG&E were worth $1,223,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Axxcess Wealth Management LLC raised its position in PG&E by 3.5% during the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock valued at $305,000 after purchasing an additional 614 shares during the period. Ballentine Partners LLC raised its position in PG&E by 3.1% during the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock valued at $392,000 after purchasing an additional 666 shares in the last quarter. Alta Advisers Ltd raised its holdings in shares of PG&E by 19.5% in the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 800 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of PG&E by 14.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after buying an additional 863 shares during the last quarter. Finally, Signaturefd LLC grew its stake in PG&E by 9.8% during the 3rd quarter. Signaturefd LLC now owns 11,280 shares of the utilities provider’s stock worth $223,000 after buying an additional 1,009 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PCG shares. Bank of America initiated coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley upped their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, UBS Group increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Trading Up 0.2 %

Shares of PCG opened at $21.04 on Friday. The firm has a 50 day simple moving average of $20.11 and a 200-day simple moving average of $18.85. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The stock has a market cap of $55.03 billion, a price-to-earnings ratio of 16.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51.

PG&E (NYSE:PCG) last announced its quarterly earnings results 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 analysts’ expectations 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 was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 earnings per share. Equities analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued 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%.

About PG&E

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.