Algert Global LLC Boosts Position in PG&E Co. (NYSE:PCG)

Algert Global LLC increased its holdings in shares of PG&E Co. (NYSE:PCG) by 301.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 91,868 shares of the utilities provider’s stock after purchasing an additional 68,979 shares during the quarter. Algert Global LLC’s holdings in PG&E were worth $1,816,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Rothschild Investment LLC purchased a new stake in PG&E in the second quarter valued at approximately $30,000. UMB Bank n.a. raised its stake in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares during the last quarter. Blue Trust Inc. raised its stake in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of PG&E during the second quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in shares of PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 1,179 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCG shares. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. UBS Group upped their price objective on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday. Morgan Stanley upped their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $23.10.

PG&E Stock Performance

NYSE PCG opened at $21.63 on Thursday. The business’s 50-day moving average price is $20.33 and its 200 day moving average price is $19.07. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.72. The company has a market capitalization of $56.57 billion, a PE ratio of 16.95, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same period in the prior year, the business posted $0.24 earnings per share. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. On average, research 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 disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. PG&E’s dividend payout ratio (DPR) is 3.13%.

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.