Kayne Anderson Capital Advisors LP Grows Holdings in PG&E Co. (NYSE:PCG)

Kayne Anderson Capital Advisors LP increased its holdings in PG&E Co. (NYSE:PCG) by 28.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 619,630 shares of the utilities provider’s stock after acquiring an additional 137,271 shares during the quarter. PG&E comprises about 0.3% of Kayne Anderson Capital Advisors LP’s investment portfolio, making the stock its 26th biggest holding. Kayne Anderson Capital Advisors LP’s holdings in PG&E were worth $12,250,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Swiss National Bank raised its stake in PG&E by 0.4% during the third quarter. Swiss National Bank now owns 6,026,300 shares of the utilities provider’s stock valued at $119,140,000 after buying an additional 25,000 shares during the last quarter. Natixis Advisors LLC raised its holdings in PG&E by 26.3% in the third quarter. Natixis Advisors LLC now owns 1,442,413 shares of the utilities provider’s stock worth $28,517,000 after buying an additional 300,651 shares during the last quarter. Empowered Funds LLC raised its holdings in PG&E by 8.9% in the 3rd quarter. Empowered Funds LLC now owns 35,482 shares of the utilities provider’s stock worth $701,000 after acquiring an additional 2,904 shares during the last quarter. Empirical Finance LLC lifted its position in PG&E by 9.6% in the 3rd quarter. Empirical Finance LLC now owns 34,788 shares of the utilities provider’s stock valued at $688,000 after acquiring an additional 3,053 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its stake in PG&E by 8.4% during the 3rd quarter. CIBC Asset Management Inc now owns 311,439 shares of the utilities provider’s stock valued at $6,157,000 after purchasing an additional 24,047 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Performance

PG&E stock opened at $21.04 on Monday. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.51. The company has a market capitalization of $55.03 billion, a PE ratio of 16.44, a P/E/G ratio of 1.62 and a beta of 1.03. The company has a 50 day moving average price of $20.12 and a 200-day moving average price of $18.89. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS 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 analyst estimates of $6.58 billion. During the same quarter in the previous year, the business posted $0.24 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

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

Analyst Ratings Changes

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

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.