The Manufacturers Life Insurance Company Has $29.18 Million Position in PG&E Co. (NYSE:PCG)

The Manufacturers Life Insurance Company raised its stake in PG&E Co. (NYSE:PCG) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,475,700 shares of the utilities provider’s stock after acquiring an additional 55,236 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of PG&E worth $29,175,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in PG&E during the second quarter worth about $30,000. UMB Bank n.a. lifted its holdings in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. lifted its holdings in shares of PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,027 shares during the period. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the 2nd quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in PG&E by 48.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,179 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Stock Performance

Shares of PCG stock opened at $21.63 on Friday. The stock has a market capitalization of $56.57 billion, a PE ratio of 16.90, a PEG ratio of 1.66 and a beta of 1.03. The business’s 50 day simple moving average is $20.44 and its 200 day simple moving average is $19.13. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a one year low of $15.94 and a one year high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the prior year, the firm posted $0.24 EPS. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCG shares. Barclays raised their price target 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 initiated coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Bank of America began coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Mizuho raised their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday. Finally, Morgan Stanley upped their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $23.10.

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.