Czech National Bank Buys 28,192 Shares of PG&E Co. (NYSE:PCG)

Czech National Bank raised its stake in shares of PG&E Co. (NYSE:PCG) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 435,423 shares of the utilities provider’s stock after purchasing an additional 28,192 shares during the quarter. Czech National Bank’s holdings in PG&E were worth $8,608,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. Rothschild Investment LLC acquired a new stake in PG&E during the second quarter worth about $30,000. UMB Bank n.a. grew its holdings in shares of PG&E by 84.7% during the 2nd 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. Vima LLC bought a new stake in shares of PG&E during the fourth quarter valued at approximately $41,000. Blue Trust Inc. raised its stake in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Finally, Plato Investment Management Ltd acquired a new position in shares of PG&E in the second quarter valued at $44,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Up 1.1 %

PCG stock opened at $19.71 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The stock has a market capitalization of $56.75 billion, a price-to-earnings ratio of 17.60, a P/E/G ratio of 1.52 and a beta of 1.01. The business has a fifty day moving average price of $19.19 and a 200 day moving average price of $18.12. PG&E Co. has a fifty-two week low of $14.87 and a fifty-two week high of $20.65.

PG&E (NYSE:PCG) last announced its earnings results 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 company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the company posted $0.23 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend 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%.

Insider Buying and Selling

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The stock was 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 approximately $350,168.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup lifted their price target 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. Bank of America started coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. Morgan Stanley increased their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Finally, UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.55.

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.