Public Sector Pension Investment Board Increases Position in PG&E Co. (NYSE:PCG)

Public Sector Pension Investment Board grew its position in shares of PG&E Co. (NYSE:PCG) by 1.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 381,163 shares of the utilities provider’s stock after purchasing an additional 3,700 shares during the period. Public Sector Pension Investment Board’s holdings in PG&E were worth $6,655,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its stake in PG&E by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock worth $4,731,888,000 after acquiring an additional 5,635,693 shares in the last quarter. JPMorgan Chase & Co. increased its stake in PG&E by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock worth $2,113,882,000 after purchasing an additional 2,176,931 shares during the period. Capital International Investors lifted its position in shares of PG&E by 4.4% during the first quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock worth $2,030,641,000 after purchasing an additional 5,066,183 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PG&E by 17.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock worth $1,779,352,000 after purchasing an additional 14,998,472 shares in the last quarter. Finally, Third Point LLC boosted its stake in shares of PG&E by 1.8% in the fourth quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock valued at $1,043,216,000 after purchasing an additional 1,000,000 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of PG&E 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 transaction, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PCG. Citigroup upped their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Morgan Stanley upped their price objective on PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Finally, JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $22.00 in a research report on Monday, June 10th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $21.45.

PG&E Trading Down 1.0 %

Shares of PG&E stock opened at $19.82 on Wednesday. The company has a fifty day simple moving average of $18.91 and a 200-day simple moving average of $17.93. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $20.65. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The stock has a market cap of $51.83 billion, a price-to-earnings ratio of 17.70, a PEG ratio of 1.54 and a beta of 1.01.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm’s revenue was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.23 earnings per share. On average, equities analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date of this dividend is Monday, September 30th. PG&E’s dividend payout ratio is currently 3.57%.

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.