DekaBank Deutsche Girozentrale Grows Stock Holdings in PG&E Co. (NYSE:PCG)

DekaBank Deutsche Girozentrale lifted its position in PG&E Co. (NYSE:PCG) by 7.0% in the third quarter, Holdings Channel.com reports. The firm owned 268,671 shares of the utilities provider’s stock after purchasing an additional 17,580 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in PG&E were worth $5,396,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of PCG. King Street Capital Management L.P. bought a new stake in PG&E in the 2nd quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA boosted its stake in shares of PG&E by 17.3% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after purchasing an additional 14,998,472 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of PG&E by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after purchasing an additional 5,635,693 shares during the last quarter. Capital International Investors raised its position in PG&E by 4.4% in the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock worth $2,030,641,000 after purchasing an additional 5,066,183 shares during the period. Finally, Capitolis Liquid Global Markets LLC bought a new stake in PG&E in the first quarter worth $57,200,000. 78.56% of the stock is currently owned by institutional investors.

PG&E Stock Up 0.2 %

Shares of PG&E stock opened at $20.23 on Friday. The company’s fifty day simple moving average is $19.87 and its two-hundred day simple moving average is $18.57. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $20.93. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The company has a market cap of $52.89 billion, a P/E ratio of 17.37, a PEG ratio of 1.56 and a beta of 1.01.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s payout ratio is currently 3.42%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on PCG shares. UBS Group raised their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Barclays raised their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America initiated coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Wells Fargo & Company raised their target price on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Finally, Morgan Stanley upped their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Insiders Place Their Bets

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

About PG&E

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.