PG&E Co. (NYSE:PCG) Shares Purchased by Plato Investment Management Ltd

Plato Investment Management Ltd lifted its holdings in PG&E Co. (NYSE:PCG) by 502.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 15,233 shares of the utilities provider’s stock after purchasing an additional 12,705 shares during the period. Plato Investment Management Ltd’s holdings in PG&E were worth $301,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in PCG. Jupiter Asset Management Ltd. purchased a new stake in PG&E in the 1st quarter worth $2,153,000. Bayesian Capital Management LP acquired a new stake in PG&E during the 1st quarter worth $2,377,000. Scientech Research LLC purchased a new stake in shares of PG&E during the second quarter worth $1,122,000. Allspring Global Investments Holdings LLC raised its position in shares of PG&E by 808.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock valued at $21,703,000 after buying an additional 1,106,200 shares during the last quarter. Finally, Van ECK Associates Corp raised its holdings in PG&E by 23.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider’s stock valued at $24,230,000 after acquiring an additional 265,694 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Stock Performance

Shares of PCG stock opened at $21.04 on Friday. The firm has a 50 day moving average of $20.11 and a two-hundred day moving average of $18.85. The stock has a market capitalization of $55.03 billion, a PE ratio of 16.44, a P/E/G ratio of 1.63 and a beta of 1.03. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.51.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion during 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%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the company posted $0.24 earnings per share. On average, research analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Analyst Upgrades and Downgrades

PCG has been the subject of several recent research reports. Morgan Stanley increased their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Wells Fargo & Company raised their price target on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. UBS Group increased their price objective on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays raised their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Finally, Bank of America started coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E 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.