First Trust Direct Indexing L.P. Increases Position in PG&E Co. (NYSE:PCG)

First Trust Direct Indexing L.P. lifted its position in shares of PG&E Co. (NYSE:PCG) by 10.8% during the third quarter, HoldingsChannel reports. The fund owned 37,885 shares of the utilities provider’s stock after acquiring an additional 3,682 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in PG&E were worth $749,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Jupiter Asset Management Ltd. acquired a new stake in shares of PG&E in the first quarter valued at approximately $2,153,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PG&E by 19.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock valued at $41,667,000 after purchasing an additional 410,409 shares in the last quarter. Bayesian Capital Management LP acquired a new stake in PG&E during the 1st quarter valued at $2,377,000. Scientech Research LLC acquired a new stake in PG&E during the 2nd quarter valued at $1,122,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in PG&E by 808.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock valued at $21,703,000 after purchasing an additional 1,106,200 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Performance

PCG opened at $20.04 on Friday. 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 stock’s 50 day simple moving average is $19.92 and its 200-day simple moving average is $18.62. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $20.93. The stock has a market cap of $52.41 billion, a PE ratio of 17.13, a P/E/G ratio of 1.55 and a beta of 1.03.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued 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 dividend payout ratio is currently 3.42%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PCG shares. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. UBS Group raised their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America began coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Barclays boosted their price target on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Morgan Stanley boosted 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 report on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.