Toronto Dominion Bank Has $24.81 Million Position in PG&E Co. (NYSE:PCG)

Toronto Dominion Bank lifted its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 18.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,254,717 shares of the utilities provider's stock after purchasing an additional 194,704 shares during the period. Toronto Dominion Bank's holdings in PG&E were worth $24,806,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of PCG. Rothschild Investment LLC acquired a new stake in shares of PG&E in the second quarter worth $30,000. UMB Bank n.a. lifted its position 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 worth $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider's stock worth $40,000 after purchasing an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new position in PG&E during the second quarter valued at approximately $44,000. Finally, Crewe Advisors LLC increased its stake in PG&E by 243.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider's stock valued at $71,000 after buying an additional 2,863 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

PG&E Stock Performance

PCG traded down $0.17 during trading on Friday, hitting $19.75. The stock had a trading volume of 11,149,119 shares, compared to its average volume of 14,341,678. The firm has a market cap of $51.65 billion, a PE ratio of 15.43, a P/E/G ratio of 1.51 and a beta of 1.01. 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 Co. has a 12 month low of $15.94 and a 12 month high of $21.72. The company has a 50 day simple moving average of $20.52 and a 200-day simple moving average of $19.25.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the company posted $0.24 earnings per share. The firm's revenue for the quarter was up .9% on a year-over-year basis. Analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.025 per share. The ex-dividend date is Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.51%. This is a positive change from PG&E's previous quarterly dividend of $0.01. PG&E's payout ratio is 3.13%.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company's stock, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PCG. UBS Group upped their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Morgan Stanley raised 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. Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. They issued a "buy" rating and a $24.00 price target for the company. Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Finally, Jefferies Financial Group started coverage on shares of PG&E in a research note on Monday, October 14th. They issued a "buy" rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $23.10.

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.