Massachusetts Financial Services Co. MA Grows Stake in PG&E Co. (NYSE:PCG)

Massachusetts Financial Services Co. MA lifted its holdings in PG&E Co. (NYSE:PCG - Free Report) by 2.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 104,846,953 shares of the utilities provider's stock after purchasing an additional 2,936,763 shares during the quarter. Massachusetts Financial Services Co. MA owned 4.01% of PG&E worth $2,072,824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCG. King Street Capital Management L.P. purchased a new stake in PG&E during the second quarter valued at $1,964,250,000. Clearbridge Investments LLC purchased a new position in shares of PG&E during the second quarter valued at about $56,679,000. Marshall Wace LLP increased its holdings in shares of PG&E by 2,850.3% in the second quarter. Marshall Wace LLP now owns 1,946,520 shares of the utilities provider's stock worth $33,986,000 after purchasing an additional 1,880,542 shares during the last quarter. AQR Capital Management LLC boosted its stake in PG&E by 234.4% during the second quarter. AQR Capital Management LLC now owns 2,112,399 shares of the utilities provider's stock valued at $36,713,000 after buying an additional 1,480,788 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in PG&E by 67.8% in the 2nd quarter. Canada Pension Plan Investment Board now owns 3,651,775 shares of the utilities provider's stock worth $63,760,000 after acquiring an additional 1,475,300 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on PCG shares. UBS Group increased 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 lifted their price target on PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They set a "buy" rating and a $24.00 price objective on the stock. Wells Fargo & Company lifted their target price on PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. Finally, Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They set a "buy" rating and a $24.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.80.

PG&E Trading Up 0.6 %

Shares of NYSE PCG traded up $0.13 during mid-day trading on Thursday, reaching $21.23. The company had a trading volume of 21,854,716 shares, compared to its average volume of 13,840,090. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.51. The business's 50-day moving average is $20.21 and its 200-day moving average is $18.96. The stock has a market cap of $55.52 billion, a price-to-earnings ratio of 16.58, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG - Get Free Report) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. The business 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 company's quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. Equities analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

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

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.