American Century Companies Inc. Has $20.84 Million Stake in PG&E Co. (NYSE:PCG)

American Century Companies Inc. increased its position in PG&E Co. (NYSE:PCG) by 1.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,193,627 shares of the utilities provider’s stock after buying an additional 13,196 shares during the period. American Century Companies Inc.’s holdings in PG&E were worth $20,841,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wells Fargo & Company MN increased its stake in shares of PG&E by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after purchasing an additional 182,279 shares during the last quarter. Crestline Management LP boosted its holdings in PG&E by 46.6% in the fourth quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after purchasing an additional 183,767 shares in the last quarter. Jupiter Asset Management Ltd. bought a new stake in PG&E in the first quarter worth $2,153,000. Dai ichi Life Insurance Company Ltd increased its position in PG&E by 379.0% during the fourth quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after buying an additional 60,525 shares during the last quarter. Finally, Hsbc Holdings PLC raised its holdings in PG&E by 24.7% during the fourth quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock valued at $51,680,000 after buying an additional 567,929 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $19.00 to $22.00 in a report on Monday, June 10th. Citigroup boosted their price objective on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Barclays raised their target price on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Morgan Stanley boosted their target price on shares of PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, UBS Group raised their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.45.

PG&E Stock Up 0.4 %

NYSE PCG opened at $19.59 on Friday. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $20.65. The stock has a market cap of $51.23 billion, a PE ratio of 17.49 and a beta of 1.01. The firm has a 50-day simple moving average of $18.78 and a 200 day simple moving average of $17.84. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The company’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter last year, the company earned $0.23 EPS. On average, research analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

Insider Buying and Selling at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

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.