Metis Global Partners LLC Grows Stock Holdings in PG&E Co. (NYSE:PCG)

Metis Global Partners LLC increased its holdings in shares of PG&E Co. (NYSE:PCG) by 15.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 151,508 shares of the utilities provider’s stock after buying an additional 20,193 shares during the period. Metis Global Partners LLC’s holdings in PG&E were worth $2,995,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rothschild Investment LLC purchased a new stake in PG&E during the 2nd quarter worth about $30,000. UMB Bank n.a. raised its holdings in PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. boosted its holdings in PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd purchased a new position in shares of PG&E during the 2nd quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in shares of PG&E by 48.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after buying an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. UBS Group lifted their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised their price objective on shares of 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, Barclays upped their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E Stock Down 1.4 %

PCG stock opened at $20.99 on Friday. PG&E Co. has a one year low of $15.94 and a one year high of $21.51. The stock has a market capitalization of $54.89 billion, a P/E ratio of 16.40, a PEG ratio of 1.63 and a beta of 1.03. The company has a 50 day moving average price of $20.10 and a two-hundred day moving average price of $18.83. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating 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 business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the business earned $0.24 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. As a group, sell-side analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E’s payout ratio 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.