Intech Investment Management LLC Grows Stock Position in PG&E Co. (NYSE:PCG)

Intech Investment Management LLC increased its position in PG&E Co. (NYSE:PCG - Free Report) by 44.1% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 582,179 shares of the utilities provider's stock after buying an additional 178,245 shares during the quarter. Intech Investment Management LLC's holdings in PG&E were worth $11,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. King Street Capital Management L.P. purchased a new position in shares of PG&E in the second quarter worth $1,964,250,000. Massachusetts Financial Services Co. MA increased its position 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 purchasing an additional 14,998,472 shares during the period. Bank of Montreal Can increased its position in PG&E by 4.1% during 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 purchasing an additional 526,645 shares during the period. BROOKFIELD Corp ON increased its position in PG&E by 3.8% during the 1st quarter. BROOKFIELD Corp ON now owns 8,761,490 shares of the utilities provider's stock valued at $146,843,000 after purchasing an additional 317,040 shares during the period. Finally, Artemis Investment Management LLP increased its position in PG&E by 3.4% during the 2nd quarter. Artemis Investment Management LLP now owns 6,873,401 shares of the utilities provider's stock valued at $120,010,000 after purchasing an additional 223,942 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Up 0.6 %

PG&E stock traded up $0.12 during mid-day trading on Friday, reaching $21.35. The stock had a trading volume of 12,129,916 shares, compared to its average volume of 13,831,114. The company has a market capitalization of $55.84 billion, a price-to-earnings ratio of 16.59, a PEG ratio of 1.61 and a beta of 1.03. The company has a 50-day moving average price of $20.24 and a two-hundred day moving average price of $18.98. PG&E Co. has a one year low of $15.94 and a one year high of $21.51. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly 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 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 quarter in the previous year, the business posted $0.24 EPS. On average, analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E's dividend payout ratio is currently 3.13%.

Wall Street Analyst Weigh In

PCG has been the topic of a number of research analyst reports. Bank of America initiated 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 on the stock. UBS Group boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Barclays boosted their price objective on shares of PG&E from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday, October 21st. 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 target price 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 report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E currently has an average rating of "Moderate Buy" and an average price target of $22.80.

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.