PG&E Co. (NYSE:PCG) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC raised its stake in PG&E Co. (NYSE:PCG) by 8.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,482 shares of the utilities provider’s stock after acquiring an additional 2,904 shares during the period. Empowered Funds LLC’s holdings in PG&E were worth $701,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in the company. Empirical Finance LLC grew its stake in PG&E by 9.6% during the 3rd quarter. Empirical Finance LLC now owns 34,788 shares of the utilities provider’s stock worth $688,000 after buying an additional 3,053 shares during the last quarter. CIBC Asset Management Inc grew its position in shares of PG&E by 8.4% during the third quarter. CIBC Asset Management Inc now owns 311,439 shares of the utilities provider’s stock worth $6,157,000 after acquiring an additional 24,047 shares during the last quarter. OneDigital Investment Advisors LLC acquired a new position in shares of PG&E in the 3rd quarter valued at $292,000. Tokio Marine Asset Management Co. Ltd. boosted its stake in PG&E by 259.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after purchasing an additional 44,650 shares during the period. Finally, Metis Global Partners LLC grew its position in PG&E by 15.4% during the 3rd quarter. Metis Global Partners LLC now owns 151,508 shares of the utilities provider’s stock worth $2,995,000 after purchasing an additional 20,193 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of NYSE PCG opened at $21.37 on Friday. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market cap of $55.89 billion, a PE ratio of 16.68, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The company has a 50-day simple moving average of $20.27 and a 200-day simple moving average of $19.00. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.51.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the company earned $0.24 earnings per share. On average, equities analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Bank of America started coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Barclays lifted their price objective on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group initiated coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

About PG&E

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.