Wellington Management Group LLP Grows Stock Position in PG&E Co. (NYSE:PCG)

Wellington Management Group LLP increased its holdings in PG&E Co. (NYSE:PCG) by 11.9% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 18,817,037 shares of the utilities provider’s stock after acquiring an additional 1,999,157 shares during the period. Wellington Management Group LLP owned approximately 0.72% of PG&E worth $339,271,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. increased its position in shares of PG&E by 3.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 58,983 shares of the utilities provider’s stock worth $951,000 after purchasing an additional 2,063 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of PG&E by 30.1% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 252,262 shares of the utilities provider’s stock valued at $4,073,000 after acquiring an additional 58,409 shares during the period. Kestra Advisory Services LLC lifted its holdings in shares of PG&E by 37.3% in the 3rd quarter. Kestra Advisory Services LLC now owns 28,562 shares of the utilities provider’s stock worth $461,000 after acquiring an additional 7,756 shares during the last quarter. Rafferty Asset Management LLC boosted its position in shares of PG&E by 44.3% during the 3rd quarter. Rafferty Asset Management LLC now owns 213,115 shares of the utilities provider’s stock worth $3,438,000 after purchasing an additional 65,412 shares during the period. Finally, Korea Investment CORP increased its holdings in PG&E by 0.6% in the 3rd quarter. Korea Investment CORP now owns 561,854 shares of the utilities provider’s stock valued at $9,063,000 after purchasing an additional 3,298 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $17.79 on Tuesday. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. The company has a fifty day simple moving average of $17.72 and a 200-day simple moving average of $17.24. The stock has a market cap of $51.22 billion, a P/E ratio of 15.88 and a beta of 1.19. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Equities analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s payout ratio is 3.57%.

Analyst Ratings Changes

Several research analysts have recently commented on PCG shares. Barclays lowered their price target on PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a research report on Monday. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and raised their target price for the company from $19.00 to $22.00 in a report on Monday, June 10th. Morgan Stanley increased their price target on shares of PG&E from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 28th. Mizuho lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price on the stock. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.22.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

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.