PG&E Co. (NYSE:PCG) Shares Bought by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA grew its holdings in PG&E Co. (NYSE:PCG) by 2.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 104,846,953 shares of the utilities provider’s stock after buying an additional 2,936,763 shares during the period. Massachusetts Financial Services Co. MA’s holdings in PG&E were worth $2,072,824,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCG. Rothschild Investment LLC acquired a new position in shares of PG&E during the 2nd quarter worth approximately $30,000. UMB Bank n.a. boosted its stake 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 buying an additional 1,011 shares during the last quarter. Blue Trust Inc. grew 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 buying an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the 2nd quarter worth $44,000. Finally, Massmutual Trust Co. FSB ADV raised its holdings in shares of PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. 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 report on Wednesday, September 25th. Wells Fargo & Company lifted their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. UBS Group lifted their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Finally, Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average target price of $22.80.

PG&E Trading Up 0.5 %

NYSE PCG opened at $21.10 on Thursday. 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 firm has a market cap of $55.18 billion, a price-to-earnings ratio of 16.48, a PEG ratio of 1.61 and a beta of 1.03. The firm has a 50 day simple moving average of $20.18 and a 200-day simple moving average of $18.95. PG&E Co. has a one year low of $15.94 and a one year high of $21.51.

PG&E (NYSE:PCG) last issued its quarterly 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. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter last year, the company posted $0.24 EPS. The firm’s revenue was up .9% compared to the same quarter last year. Equities research analysts anticipate that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 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.