Mediolanum International Funds Ltd Purchases New Shares in PG&E Co. (NYSE:PCG)

Mediolanum International Funds Ltd purchased a new stake in PG&E Co. (NYSE:PCG) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 39,184 shares of the utilities provider’s stock, valued at approximately $775,000.

Other large investors have also added to or reduced their stakes in the company. Rothschild Investment LLC bought a new stake in PG&E in the second quarter valued at $30,000. UMB Bank n.a. boosted its holdings in PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new stake in PG&E in the second quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of PG&E by 48.8% during the 2nd 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. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PCG. Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. 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 target price on the stock. Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Finally, Wells Fargo & Company boosted their target price on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

PG&E Price Performance

Shares of NYSE:PCG opened at $20.36 on Monday. PG&E Co. has a fifty-two week low of $15.59 and a fifty-two week high of $20.93. The business has a 50-day simple moving average of $19.77 and a two-hundred day simple moving average of $18.49. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market cap of $58.62 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. During the same quarter in the previous year, the firm earned $0.23 EPS. PG&E’s revenue was up 13.2% on a year-over-year basis. On average, analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is 3.57%.

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.