PG&E Co. (NYSE:PCG) Shares Purchased by Caprock Group LLC

Caprock Group LLC boosted its position in shares of PG&E Co. (NYSE:PCG) by 8.7% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 26,654 shares of the utilities provider’s stock after acquiring an additional 2,129 shares during the quarter. Caprock Group LLC’s holdings in PG&E were worth $527,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. King Street Capital Management L.P. acquired a new stake in shares of PG&E during the second quarter worth about $1,964,250,000. Massachusetts Financial Services Co. MA lifted its stake in PG&E by 17.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after acquiring an additional 14,998,472 shares during the period. Bank of Montreal Can boosted 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. BROOKFIELD Corp ON increased its stake in shares of PG&E by 3.8% in the first quarter. BROOKFIELD Corp ON now owns 8,761,490 shares of the utilities provider’s stock worth $146,843,000 after acquiring an additional 317,040 shares during the period. Finally, Artemis Investment Management LLP raised its holdings in shares of 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 purchasing an additional 223,942 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Up 0.6 %

Shares of NYSE PCG opened at $21.35 on Friday. The firm has a market cap of $55.84 billion, a price-to-earnings ratio of 16.68, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The company’s 50-day simple moving average is $20.24 and its 200-day simple moving average is $18.98. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.51.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (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 company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the previous year, the firm posted $0.24 EPS. PG&E’s revenue was up .9% compared to the same quarter last year. Equities analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed 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 annualized dividend and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.13%.

Analyst Upgrades and Downgrades

PCG has been the topic of several recent research reports. Bank of America initiated coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Barclays raised their target price on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group began coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Morgan Stanley boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average 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.