ING Groep NV Sells 1,699 Shares of PG&E Co. (NYSE:PCG)

ING Groep NV cut its position in shares of PG&E Co. (NYSE:PCG) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 718,865 shares of the utilities provider’s stock after selling 1,699 shares during the period. ING Groep NV’s holdings in PG&E were worth $14,212,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of PCG. Envestnet Portfolio Solutions Inc. boosted its stake in shares of PG&E by 22.6% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 16,165 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 2,982 shares during the period. Empowered Funds LLC raised its holdings in PG&E by 8.4% in the 1st quarter. Empowered Funds LLC now owns 27,994 shares of the utilities provider’s stock valued at $469,000 after acquiring an additional 2,170 shares during the period. Jupiter Asset Management Ltd. acquired a new stake in PG&E during the first quarter worth approximately $2,153,000. JPMorgan Chase & Co. boosted its holdings in shares of PG&E by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock worth $2,113,882,000 after acquiring an additional 2,176,931 shares during the period. Finally, Cornerstone Advisors LLC bought a new stake in shares of PG&E during the first quarter worth approximately $391,000. 78.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Bank of America began coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Wells Fargo & Company boosted their price objective 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 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. UBS Group increased their price target on PG&E from $24.00 to $26.00 and gave the stock 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 issued a “buy” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Trading Down 1.4 %

PCG opened at $20.99 on Friday. The company’s 50 day moving average is $20.10 and its 200-day moving average is $18.83. The company has a market cap of $54.89 billion, a P/E ratio of 16.40, a PEG ratio of 1.63 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 company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

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

PG&E Dividend Announcement

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.19%. PG&E’s dividend payout ratio (DPR) is presently 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.