PG&E Co. (NYSE:PCG) Shares Purchased by Geode Capital Management LLC

Geode Capital Management LLC grew its stake in PG&E Co. (NYSE:PCG - Free Report) by 1.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,837,059 shares of the utilities provider's stock after buying an additional 536,914 shares during the quarter. Geode Capital Management LLC owned 1.91% of PG&E worth $981,960,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Rothschild Investment LLC acquired a new stake in PG&E in the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its holdings in PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. grew its position in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider's stock valued at $40,000 after purchasing an additional 1,027 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the second quarter valued at about $44,000. Finally, Crewe Advisors LLC increased its stake in shares of PG&E by 243.0% during the second quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider's stock worth $71,000 after purchasing an additional 2,863 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

PG&E Trading Up 0.6 %

NYSE PCG traded up $0.11 during trading on Thursday, hitting $19.92. The stock had a trading volume of 13,191,606 shares, compared to its average volume of 14,352,476. The company has a market capitalization of $52.10 billion, a PE ratio of 15.56, a PEG ratio of 1.55 and a beta of 1.01. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a 50 day moving average price of $20.52 and a 200 day moving average price of $19.24.

PG&E (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The company 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 firm's quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business earned $0.24 EPS. As a group, equities research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.50%. This is a positive change from PG&E's previous quarterly dividend of $0.01. PG&E's dividend payout ratio (DPR) is currently 7.81%.

Analyst Upgrades and Downgrades

PCG has been the topic of several research analyst reports. Jefferies Financial Group began coverage on PG&E in a report on Monday, October 14th. They issued a "buy" rating and a $24.00 price objective on the stock. Mizuho lifted their price target on PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Bank of America started coverage on PG&E in a research note on Thursday, September 12th. They issued a "buy" rating and a $24.00 price objective for the company. Barclays upped their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a report on Monday, October 21st. Finally, Morgan Stanley raised their price target 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. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $23.10.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares of the company's stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company's stock.

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.