Pathstone Holdings LLC Has $2.33 Million Stake in PG&E Co. (NYSE:PCG)

Pathstone Holdings LLC raised its position in shares of PG&E Co. (NYSE:PCG) by 9.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 117,624 shares of the utilities provider’s stock after purchasing an additional 10,276 shares during the quarter. Pathstone Holdings LLC’s holdings in PG&E were worth $2,326,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. O Shaughnessy Asset Management LLC lifted its stake in PG&E by 18.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,294 shares of the utilities provider’s stock worth $441,000 after acquiring an additional 4,045 shares in the last quarter. Janus Henderson Group PLC boosted its holdings in shares of PG&E by 8.6% during the first quarter. Janus Henderson Group PLC now owns 271,703 shares of the utilities provider’s stock worth $4,550,000 after purchasing an additional 21,483 shares during the period. Meiji Yasuda Life Insurance Co acquired a new stake in shares of PG&E during the first quarter worth approximately $186,000. California State Teachers Retirement System increased its stake in PG&E by 1.3% in the 1st quarter. California State Teachers Retirement System now owns 3,311,214 shares of the utilities provider’s stock valued at $55,496,000 after buying an additional 42,662 shares during the period. Finally, Tidal Investments LLC lifted its position in PG&E by 8.9% in the 1st quarter. Tidal Investments LLC now owns 94,222 shares of the utilities provider’s stock worth $1,579,000 after buying an additional 7,703 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the topic of several research analyst reports. 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 on the stock. Morgan Stanley raised their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Barclays boosted their price target on 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 assumed coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, UBS Group boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Price Performance

Shares of PG&E stock opened at $21.19 on Tuesday. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51. The firm has a fifty day simple moving average of $20.27 and a 200-day simple moving average of $19.02. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $55.40 billion, a price-to-earnings ratio of 16.55, a PEG ratio of 1.64 and a beta of 1.03.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.24 earnings per share. On average, sell-side analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

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

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.