Swiss National Bank Buys 25,000 Shares of PG&E Co. (NYSE:PCG)

Swiss National Bank lifted its stake in PG&E Co. (NYSE:PCG) by 0.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,026,300 shares of the utilities provider’s stock after buying an additional 25,000 shares during the quarter. Swiss National Bank’s holdings in PG&E were worth $119,140,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in PCG. King Street Capital Management L.P. bought a new position in shares of PG&E during the 2nd quarter valued at approximately $1,964,250,000. Massachusetts Financial Services Co. MA grew its stake in shares of PG&E by 17.3% during 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 acquiring an additional 14,998,472 shares during the period. Capital International Investors grew its stake in shares of PG&E by 4.4% during the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock valued at $2,030,641,000 after acquiring an additional 5,066,183 shares during the period. Clearbridge Investments LLC bought a new position in shares of PG&E during the 2nd quarter valued at approximately $56,679,000. Finally, Marshall Wace LLP grew its stake in shares of PG&E by 2,850.3% during the 2nd quarter. Marshall Wace LLP now owns 1,946,520 shares of the utilities provider’s stock valued at $33,986,000 after acquiring an additional 1,880,542 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PCG shares. UBS Group boosted 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. Jefferies Financial Group began coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Morgan Stanley boosted their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Barclays boosted their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Stock Up 0.0 %

Shares of PCG opened at $21.05 on Tuesday. The stock has a market capitalization of $55.05 billion, a price-to-earnings ratio of 16.45, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.51. The business’s 50 day simple moving average is $20.12 and its 200-day simple moving average is $18.90. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

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

PG&E Announces Dividend

The business also recently announced 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 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.