Bank of Montreal Can Has $234.70 Million Stake in PG&E Co. (NYSE:PCG)

Bank of Montreal Can increased its position in shares of PG&E Co. (NYSE:PCG) by 4.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,320,166 shares of the utilities provider’s stock after buying an additional 526,645 shares during the period. Bank of Montreal Can’s holdings in PG&E were worth $234,701,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of PCG. Wells Fargo & Company MN lifted its stake in shares of PG&E by 19.1% in the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock valued at $20,493,000 after purchasing an additional 182,279 shares during the period. Crestline Management LP grew its position in shares of PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after buying an additional 183,767 shares during the period. Jupiter Asset Management Ltd. bought a new stake in shares of PG&E in the 1st quarter valued at $2,153,000. Hsbc Holdings PLC lifted its position in shares of PG&E by 24.7% during the 4th quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock valued at $51,680,000 after acquiring an additional 567,929 shares during the period. Finally, Caden Capital Partners LP bought a new position in PG&E during the fourth quarter worth $24,759,000. Institutional investors own 78.56% of the company’s stock.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction that occurred 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 owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PCG. Wells Fargo & Company lifted 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. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Barclays increased their price target on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $19.00 to $22.00 in a report on Monday, June 10th. Finally, Citigroup increased their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average target price of $21.45.

PG&E Trading Down 0.2 %

Shares of PG&E stock opened at $20.03 on Tuesday. The firm has a market cap of $57.67 billion, a PE ratio of 17.88, a P/E/G ratio of 1.53 and a beta of 1.01. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $20.65. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The stock has a fifty day moving average price of $18.87 and a 200-day moving average price of $17.91.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the prior year, the business earned $0.23 earnings per share. PG&E’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts anticipate that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

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

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.