25,814 Shares in PG&E Co. (NYSE:PCG) Acquired by MQS Management LLC

MQS Management LLC acquired a new stake in PG&E Co. (NYSE:PCG) during the third quarter, HoldingsChannel reports. The fund acquired 25,814 shares of the utilities provider’s stock, valued at approximately $510,000.

A number of other institutional investors have also recently bought and sold shares of PCG. Janney Montgomery Scott LLC boosted its position in shares of PG&E by 9.9% in the 1st quarter. Janney Montgomery Scott LLC now owns 65,702 shares of the utilities provider’s stock worth $1,101,000 after purchasing an additional 5,914 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of PG&E by 22.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 16,165 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 2,982 shares in the last quarter. Empowered Funds LLC increased its position in shares of PG&E by 8.4% in the 1st quarter. Empowered Funds LLC now owns 27,994 shares of the utilities provider’s stock valued at $469,000 after buying an additional 2,170 shares in the last quarter. Oppenheimer & Co. Inc. raised its stake in PG&E by 3.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 36,529 shares of the utilities provider’s stock worth $612,000 after buying an additional 1,234 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PG&E by 19.8% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock worth $41,667,000 after acquiring an additional 410,409 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

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

PG&E Stock Up 0.4 %

PCG stock opened at $21.28 on Thursday. The company has a market cap of $55.65 billion, a price-to-earnings ratio of 16.63, a P/E/G ratio of 1.63 and a beta of 1.03. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.51. The business has a 50 day moving average price of $20.10 and a two-hundred day moving average price of $18.83. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same period last year, the business earned $0.24 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Analysts anticipate 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 was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

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.