Raymond James Trust N.A. Grows Position in PG&E Co. (NYSE:PCG)

Raymond James Trust N.A. lifted its stake in PG&E Co. (NYSE:PCG) by 31.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,686 shares of the utilities provider’s stock after buying an additional 5,449 shares during the quarter. Raymond James Trust N.A.’s holdings in PG&E were worth $449,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. raised its stake in PG&E by 1.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,559,875 shares of the utilities provider’s stock worth $228,539,000 after acquiring an additional 119,866 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. Intech Investment Management LLC lifted its stake in shares of PG&E by 44.1% during the 3rd quarter. Intech Investment Management LLC now owns 582,179 shares of the utilities provider’s stock valued at $11,510,000 after buying an additional 178,245 shares in the last quarter. Commerce Bank boosted its holdings in PG&E by 1.5% in the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after buying an additional 712 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in PG&E by 15.5% in the 3rd quarter. PNC Financial Services Group Inc. now owns 91,289 shares of the utilities provider’s stock worth $1,805,000 after buying an additional 12,226 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on PCG shares. Barclays upped 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. Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. UBS Group increased their price objective 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. Finally, Bank of America assumed coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E Price Performance

NYSE:PCG opened at $21.51 on Wednesday. The firm has a market capitalization of $56.25 billion, a price-to-earnings ratio of 16.80, a PEG ratio of 1.64 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The business has a 50 day simple moving average of $20.29 and a 200-day simple moving average of $19.04. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.56.

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

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given 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 (DPR) is currently 3.13%.

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.