Empowered Funds LLC Grows Holdings in PG&E Co. (NYSE:PCG)

Empowered Funds LLC raised its position in PG&E Co. (NYSE:PCG) by 8.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 35,482 shares of the utilities provider’s stock after buying an additional 2,904 shares during the period. Empowered Funds LLC’s holdings in PG&E were worth $701,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCG. Empirical Finance LLC boosted its holdings in PG&E by 9.6% in the third quarter. Empirical Finance LLC now owns 34,788 shares of the utilities provider’s stock valued at $688,000 after purchasing an additional 3,053 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of PG&E by 8.4% in the 3rd quarter. CIBC Asset Management Inc now owns 311,439 shares of the utilities provider’s stock valued at $6,157,000 after purchasing an additional 24,047 shares in the last quarter. OneDigital Investment Advisors LLC purchased a new position in shares of PG&E during the 3rd quarter valued at approximately $292,000. Tokio Marine Asset Management Co. Ltd. grew its position in shares of PG&E by 259.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after buying an additional 44,650 shares in the last quarter. Finally, Metis Global Partners LLC raised its holdings in PG&E by 15.4% in the third quarter. Metis Global Partners LLC now owns 151,508 shares of the utilities provider’s stock valued at $2,995,000 after acquiring an additional 20,193 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Trading Up 0.7 %

NYSE:PCG opened at $21.37 on Friday. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.51. The business has a fifty day moving average of $20.27 and a 200-day moving average of $19.00. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a market cap of $55.89 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.63 and a beta of 1.03.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. PG&E’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. Equities analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. 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 target price for the company. UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group started coverage on PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Barclays raised their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

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.