PG&E Co. (NYSE:PCG) Shares Bought by Janus Henderson Group PLC

Janus Henderson Group PLC lifted its stake in shares of PG&E Co. (NYSE:PCG) by 11.9% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 336,247 shares of the utilities provider’s stock after buying an additional 35,700 shares during the quarter. Janus Henderson Group PLC’s holdings in PG&E were worth $6,646,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in the stock. FMR LLC grew its position in shares of PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares in the last quarter. King Street Capital Management L.P. acquired a new stake in shares of PG&E during the second quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA boosted its holdings in PG&E by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in PG&E by 13.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,572,325 shares of the utilities provider’s stock worth $307,865,000 after purchasing an additional 1,867,690 shares during the period. Finally, Bank of Montreal Can boosted its holdings in PG&E by 1.8% in the third quarter. Bank of Montreal Can now owns 13,566,330 shares of the utilities provider’s stock worth $268,885,000 after purchasing an additional 246,164 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. UBS Group lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays raised their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Mizuho raised their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. 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 stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Trading Down 0.5 %

Shares of PCG opened at $20.23 on Tuesday. The business’s 50-day moving average price is $20.52 and its 200 day moving average price is $19.22. The stock has a market capitalization of $52.91 billion, a P/E ratio of 15.80, a P/E/G ratio of 1.55 and a beta of 1.01. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.72. 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 issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. Analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.49%. The ex-dividend date of this dividend is Tuesday, December 31st. This is a boost from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is 3.13%.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.15% of the company’s stock.

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.