APG Asset Management N.V. Buys 4,678 Shares of PG&E Co. (NYSE:PCG)

APG Asset Management N.V. grew its stake in shares of PG&E Co. (NYSE:PCG) by 0.3% in the second quarter, HoldingsChannel.com reports. The fund owned 1,765,107 shares of the utilities provider’s stock after acquiring an additional 4,678 shares during the quarter. APG Asset Management N.V.’s holdings in PG&E were worth $28,756,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. King Street Capital Management L.P. acquired a new position in PG&E in the second quarter valued at about $1,964,250,000. Massachusetts Financial Services Co. MA raised its position in shares of PG&E by 17.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after buying an additional 14,998,472 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in shares of PG&E during the 4th quarter worth approximately $142,612,000. Capital International Investors boosted its position in shares of PG&E by 7.1% during the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after acquiring an additional 7,681,566 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in PG&E by 2.0% in the first quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after acquiring an additional 5,635,693 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Price Performance

Shares of NYSE:PCG opened at $19.82 on Friday. 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 Co. has a 52 week low of $14.71 and a 52 week high of $20.65. The firm has a market cap of $57.07 billion, a PE ratio of 17.70, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01. The firm’s fifty day moving average is $18.99 and its 200-day moving average is $17.96.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $5.99 billion for 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 business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.23 EPS. Sell-side analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date is Monday, September 30th. PG&E’s dividend payout ratio is presently 3.57%.

Analyst Ratings Changes

PCG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and raised their target price for the company from $19.00 to $22.00 in a report on Monday, June 10th. UBS Group raised their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Barclays boosted their target price on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Wells Fargo & Company raised their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Morgan Stanley upped their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.55.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the sale, 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 SEC, which is available at the SEC website. Company 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.