CIBC Asset Management Inc Increases Holdings in PG&E Co. (NYSE:PCG)

CIBC Asset Management Inc boosted its position in PG&E Co. (NYSE:PCG - Free Report) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 311,439 shares of the utilities provider's stock after buying an additional 24,047 shares during the period. CIBC Asset Management Inc's holdings in PG&E were worth $6,157,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of PCG. King Street Capital Management L.P. purchased a new position in PG&E during the second quarter valued at approximately $1,964,250,000. Massachusetts Financial Services Co. MA boosted its holdings in PG&E by 17.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider's stock worth $1,779,352,000 after buying an additional 14,998,472 shares in the last quarter. Capital International Investors grew its position in PG&E by 4.4% during the first quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider's stock valued at $2,030,641,000 after buying an additional 5,066,183 shares during the period. Capitolis Liquid Global Markets LLC purchased a new position in PG&E in the first quarter valued at $57,200,000. Finally, Clearbridge Investments LLC acquired a new position in shares of PG&E in the second quarter worth about $56,679,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PCG shares. Wells Fargo & Company lifted their price target on PG&E from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. UBS Group upped their target price on PG&E from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They set a "buy" rating and a $24.00 price objective for the company. Morgan Stanley lifted 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 report on Wednesday, September 25th. Finally, Barclays lifted their price objective on PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.80.

PG&E Stock Performance

Shares of PCG remained flat at $21.04 during mid-day trading on Monday. 12,478,064 shares of the stock traded hands, compared to its average volume of 13,807,062. The company has a fifty day moving average of $20.12 and a 200-day moving average of $18.90. 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 1-year low of $15.94 and a 1-year high of $21.51. The company has a market capitalization of $55.03 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly 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. The business 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%. The company's quarterly revenue 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. As a group, equities research analysts anticipate 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 given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E's dividend payout ratio 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.