Natixis Advisors LLC increased its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 26.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,442,413 shares of the utilities provider's stock after buying an additional 300,651 shares during the quarter. Natixis Advisors LLC owned 0.06% of PG&E worth $28,517,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. King Street Capital Management L.P. bought a new stake in PG&E during the second quarter worth about $1,964,250,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of PG&E by 17.3% in 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 buying an additional 14,998,472 shares during the last quarter. Capital International Investors grew 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 valued at $2,030,641,000 after buying an additional 5,066,183 shares in the last quarter. Clearbridge Investments LLC acquired a new position in PG&E during the second quarter worth $56,679,000. Finally, Marshall Wace LLP raised its position in PG&E by 2,850.3% during the second quarter. Marshall Wace LLP now owns 1,946,520 shares of the utilities provider's stock worth $33,986,000 after acquiring an additional 1,880,542 shares in the last quarter. Institutional investors own 78.56% of the company's stock.
PG&E Stock Performance
PG&E stock traded down $0.01 during midday trading on Tuesday, hitting $21.03. The company's stock had a trading volume of 9,404,953 shares, compared to its average volume of 13,787,418. The company has a 50-day moving average price of $20.12 and a two-hundred day moving average price of $18.90. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51. The company has a market cap of $55.00 billion, a price-to-earnings ratio of 16.45, a PEG ratio of 1.62 and a beta of 1.03. 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 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. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion during the quarter, compared to analysts' expectations of $6.58 billion. During the same period in the previous year, the firm earned $0.24 EPS. The company's quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.
PG&E Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. PG&E's dividend payout ratio (DPR) is presently 3.13%.
Wall Street Analysts Forecast Growth
PCG has been the subject of a number of analyst reports. Morgan Stanley lifted their price objective 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. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a research report on Friday, July 26th. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the company an "overweight" rating in a research note on Monday, October 21st. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They set a "buy" rating and a $24.00 target price on the stock. Finally, UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $22.80.
Read Our Latest Research Report on PG&E
PG&E Profile
(
Free Report)
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.
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