Sumitomo Mitsui DS Asset Management Company Ltd Grows Stake in PG&E Co. (NYSE:PCG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in PG&E Co. (NYSE:PCG) by 8.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 226,696 shares of the utilities provider’s stock after purchasing an additional 18,085 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PG&E were worth $4,482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PCG. Axxcess Wealth Management LLC lifted its stake in shares of PG&E by 3.5% in the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after buying an additional 614 shares in the last quarter. Ballentine Partners LLC lifted its position in PG&E by 3.1% in the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 666 shares in the last quarter. Alta Advisers Ltd boosted its stake in PG&E by 19.5% during the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 800 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PG&E by 14.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 863 shares in the last quarter. Finally, Meeder Advisory Services Inc. increased its holdings in shares of PG&E by 8.0% in the 1st quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock worth $207,000 after purchasing an additional 917 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

NYSE:PCG opened at $20.38 on Friday. The stock has a 50-day simple moving average of $19.55 and a two-hundred day simple moving average of $18.36. 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 capitalization of $58.68 billion, a PE ratio of 18.20, a P/E/G ratio of 1.55 and a beta of 1.01. PG&E Co. has a 52-week low of $15.59 and a 52-week high of $20.65.

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

PG&E Announces Dividend

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

Insider Buying and Selling at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PCG has been the topic of several recent analyst reports. Barclays increased their price objective on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley lifted their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Wells Fargo & Company lifted their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. Three research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.

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.