Tokio Marine Asset Management Co. Ltd. Raises Stock Position in PG&E Co. (NYSE:PCG)

Tokio Marine Asset Management Co. Ltd. lifted its holdings in PG&E Co. (NYSE:PCG - Free Report) by 259.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,850 shares of the utilities provider's stock after purchasing an additional 44,650 shares during the quarter. Tokio Marine Asset Management Co. Ltd.'s holdings in PG&E were worth $1,223,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCG. Vanguard Group Inc. increased its holdings in shares of PG&E by 2.0% in the first quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider's stock valued at $4,731,888,000 after purchasing an additional 5,635,693 shares during the period. JPMorgan Chase & Co. increased its holdings in PG&E by 1.8% in the 1st quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider's stock worth $2,113,882,000 after buying an additional 2,176,931 shares during the period. Capital International Investors raised its position in PG&E by 4.4% during the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider's stock worth $2,030,641,000 after buying an additional 5,066,183 shares during the last quarter. King Street Capital Management L.P. acquired a new stake in PG&E during the 2nd quarter valued at approximately $1,964,250,000. Finally, Massachusetts Financial Services Co. MA lifted its stake 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 acquiring an additional 14,998,472 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Trading Up 0.2 %

NYSE PCG traded up $0.05 during trading hours on Friday, reaching $21.04. The company had a trading volume of 21,825,309 shares, compared to its average volume of 13,813,047. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51. The stock has a market capitalization of $55.03 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The stock has a 50-day moving average of $20.12 and a 200 day moving average of $18.87. 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 released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping 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 business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the business posted $0.24 earnings per share. The company's quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given 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 currently 3.13%.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of recent research reports. Wells Fargo & Company upped their target price on PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. Morgan Stanley lifted 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. UBS Group increased their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a "buy" rating in a report on Tuesday, September 3rd. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They issued a "buy" rating and a $24.00 price target for the company. Finally, Barclays raised their price objective on PG&E from $24.00 to $25.00 and gave the company an "overweight" rating in a report on Monday, October 21st. Two 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.80.

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.