Meiji Yasuda Asset Management Co Ltd. Purchases 1,990 Shares of PG&E Co. (NYSE:PCG)

Meiji Yasuda Asset Management Co Ltd. lifted its position in PG&E Co. (NYSE:PCG) by 6.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 31,900 shares of the utilities provider’s stock after buying an additional 1,990 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in PG&E were worth $557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Mercer Global Advisors Inc. ADV boosted its position in PG&E by 7.0% in the second quarter. Mercer Global Advisors Inc. ADV now owns 468,216 shares of the utilities provider’s stock worth $8,776,000 after purchasing an additional 30,542 shares during the last quarter. Edgestream Partners L.P. lifted its stake in shares of PG&E by 254.9% in the 2nd quarter. Edgestream Partners L.P. now owns 492,243 shares of the utilities provider’s stock worth $8,595,000 after purchasing an additional 353,539 shares during the period. Renaissance Technologies LLC purchased a new position in shares of PG&E in the second quarter worth approximately $2,565,000. Quantbot Technologies LP grew its position in PG&E by 117.0% during the second quarter. Quantbot Technologies LP now owns 264,726 shares of the utilities provider’s stock valued at $4,622,000 after buying an additional 142,754 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in PG&E by 5.3% during the second quarter. Dimensional Fund Advisors LP now owns 6,651,723 shares of the utilities provider’s stock valued at $116,141,000 after buying an additional 335,306 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Activity

In related news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the sale, the vice president now owns 19,114 shares in the company, valued at $350,168.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of NYSE:PCG opened at $20.08 on Friday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 17.93, a P/E/G ratio of 1.53 and a beta of 1.01. The firm has a fifty day moving average price of $18.82 and a 200 day moving average price of $17.86. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $20.65.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. The business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.23 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a dividend of $0.01 per share. The ex-dividend date is Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. PG&E’s dividend payout ratio (DPR) is 3.57%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Barclays boosted their price target on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. UBS Group lifted their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Wells Fargo & Company increased their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average target price of $21.45.

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.