Charles Schwab Investment Management Inc. Buys 119,866 Shares of PG&E Co. (NYSE:PCG)

Charles Schwab Investment Management Inc. increased its stake in PG&E Co. (NYSE:PCG) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,559,875 shares of the utilities provider’s stock after acquiring an additional 119,866 shares during the period. Charles Schwab Investment Management Inc. owned about 0.44% of PG&E worth $228,539,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its position in PG&E by 18.2% in the first quarter. O Shaughnessy Asset Management LLC now owns 26,294 shares of the utilities provider’s stock valued at $441,000 after purchasing an additional 4,045 shares during the last quarter. Axxcess Wealth Management LLC raised its holdings in PG&E by 3.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock valued at $305,000 after buying an additional 614 shares during the last quarter. 1832 Asset Management L.P. boosted its position in PG&E by 6.8% during the 1st quarter. 1832 Asset Management L.P. now owns 123,378 shares of the utilities provider’s stock valued at $2,068,000 after buying an additional 7,831 shares during the period. Paloma Partners Management Co bought a new stake in PG&E in the 1st quarter worth $285,000. Finally, Bayesian Capital Management LP purchased a new position in shares of PG&E in the first quarter valued at about $2,377,000. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PG&E Trading Up 0.7 %

Shares of NYSE PCG opened at $21.37 on Friday. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.51. 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 firm has a 50-day moving average of $20.27 and a 200 day moving average of $19.00. The stock has a market cap of $55.89 billion, a P/E ratio of 16.70, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03.

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, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the business earned $0.24 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E’s payout ratio is presently 3.13%.

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.