PG&E Co. (NYSE:PCG) Shares Acquired by Huntington National Bank

Huntington National Bank increased its position in shares of PG&E Co. (NYSE:PCG) by 32.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,831 shares of the utilities provider’s stock after acquiring an additional 1,195 shares during the quarter. Huntington National Bank’s holdings in PG&E were worth $96,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Envestnet Portfolio Solutions Inc. boosted its holdings in shares of PG&E by 22.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 16,165 shares of the utilities provider’s stock worth $271,000 after purchasing an additional 2,982 shares during the last quarter. Covestor Ltd grew its holdings in PG&E by 74.5% in the 1st quarter. Covestor Ltd now owns 4,997 shares of the utilities provider’s stock valued at $84,000 after buying an additional 2,134 shares during the period. O Shaughnessy Asset Management LLC grew its holdings in PG&E by 18.2% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 26,294 shares of the utilities provider’s stock valued at $441,000 after buying an additional 4,045 shares during the period. Seven Eight Capital LP increased its stake in shares of PG&E by 264.5% during the 1st quarter. Seven Eight Capital LP now owns 37,329 shares of the utilities provider’s stock valued at $626,000 after acquiring an additional 27,089 shares during the last quarter. Finally, Capitolis Liquid Global Markets LLC purchased a new position in shares of PG&E during the 1st quarter worth about $57,200,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. UBS Group boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Morgan Stanley upped their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, PG&E presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Trading Up 0.2 %

PCG opened at $21.04 on Monday. The firm’s 50 day moving average is $20.12 and its 200-day moving average is $18.89. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.51. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $55.03 billion, a P/E ratio of 16.44, a P/E/G ratio of 1.62 and a beta of 1.03.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS 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 analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.24 EPS. Analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.13%.

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.