PG&E Co. (NYSE:PCG) Shares Acquired by Kayne Anderson Capital Advisors LP

Kayne Anderson Capital Advisors LP boosted its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 28.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 619,630 shares of the utilities provider's stock after purchasing an additional 137,271 shares during the period. PG&E makes up about 0.3% of Kayne Anderson Capital Advisors LP's portfolio, making the stock its 26th biggest position. Kayne Anderson Capital Advisors LP's holdings in PG&E were worth $12,250,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCG. Capital International Investors increased its stake in shares of PG&E by 4.4% in the first quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider's stock worth $2,030,641,000 after acquiring an additional 5,066,183 shares during the period. King Street Capital Management L.P. purchased a new position in PG&E during the second quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA grew its holdings in PG&E by 17.3% in the second 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 shares of PG&E by 4.1% in the second quarter. Bank of Montreal Can now owns 13,320,166 shares of the utilities provider's stock valued at $234,701,000 after buying an additional 526,645 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its stake in shares of PG&E by 3.8% during the 1st quarter. BROOKFIELD Corp ON now owns 8,761,490 shares of the utilities provider's stock worth $146,843,000 after buying an additional 317,040 shares during the period. Hedge funds and other institutional investors own 78.56% of the company's stock.

PG&E Stock Performance

NYSE:PCG traded up $0.01 during midday trading on Monday, reaching $21.05. The stock had a trading volume of 12,478,908 shares, compared to its average volume of 13,807,064. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.51. The stock has a market cap of $55.05 billion, a P/E ratio of 16.42, a P/E/G ratio of 1.62 and a beta of 1.03. 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 fifty day simple moving average of $20.12 and a two-hundred day simple moving average of $18.90.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E's quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. On average, equities analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PCG shares. Morgan Stanley lifted their price target on PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Barclays raised their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. Wells Fargo & Company increased 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. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They issued a "buy" rating and a $24.00 target price for the company. Finally, Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They set a "buy" rating and a $24.00 target price on the stock. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price 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.