Sumitomo Mitsui Trust Group Inc. Boosts Position in PG&E Co. (NYSE:PCG)

Sumitomo Mitsui Trust Group Inc. lifted its holdings in PG&E Co. (NYSE:PCG - Free Report) by 1.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,094,874 shares of the utilities provider's stock after acquiring an additional 64,794 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.19% of PG&E worth $100,726,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Rothschild Investment LLC purchased a new position in shares of PG&E in the 2nd quarter worth approximately $30,000. UMB Bank n.a. raised its stake in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. lifted its holdings in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider's stock worth $40,000 after acquiring an additional 1,027 shares during the last quarter. Plato Investment Management Ltd purchased a new position in shares of PG&E during the 2nd quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider's stock valued at $63,000 after purchasing an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

PG&E Stock Performance

Shares of PCG traded down $0.14 during mid-day trading on Thursday, reaching $21.14. The company had a trading volume of 3,073,159 shares, compared to its average volume of 13,744,371. The stock has a market capitalization of $55.29 billion, a P/E ratio of 16.63, a PEG ratio of 1.63 and a beta of 1.03. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.51. The stock has a 50 day moving average of $20.10 and a two-hundred day moving average of $18.83. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

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

PG&E Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCG. UBS Group upped their target price on PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Jefferies Financial Group began coverage on PG&E in a research report on Monday, October 14th. They issued a "buy" rating and a $24.00 price objective on the stock. Barclays lifted their target price on PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Morgan Stanley upped their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Finally, Bank of America started coverage on shares of PG&E in a report on Thursday, September 12th. They set a "buy" rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $22.80.

PG&E 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.