Intech Investment Management LLC Has $7.05 Million Stock Holdings in PG&E Co. (NYSE:PCG)

Intech Investment Management LLC increased its position in shares of PG&E Co. (NYSE:PCG) by 9.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 403,934 shares of the utilities provider’s stock after acquiring an additional 36,095 shares during the period. Intech Investment Management LLC’s holdings in PG&E were worth $7,053,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. Wells Fargo & Company MN boosted its position in shares of PG&E by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after acquiring an additional 182,279 shares in the last quarter. Crestline Management LP boosted its position in shares of PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after acquiring an additional 183,767 shares in the last quarter. Jupiter Asset Management Ltd. acquired a new stake in shares of PG&E during the 1st quarter worth approximately $2,153,000. Dai ichi Life Insurance Company Ltd boosted its position in shares of PG&E by 379.0% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after acquiring an additional 60,525 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its stake in PG&E by 24.7% in the 4th quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock valued at $51,680,000 after purchasing an additional 567,929 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

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

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, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter last year, the firm earned $0.23 earnings per share. PG&E’s quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts forecast that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The company also recently announced 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 presently 3.57%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on PCG. Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays increased their price objective on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley increased their price objective on shares of PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Citigroup increased their price objective on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research note on Friday, June 14th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average price target of $21.45.

Insider Buying and Selling

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

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.