Tokio Marine Asset Management Co. Ltd. Grows Stock Holdings in PG&E Co. (NYSE:PCG)

Tokio Marine Asset Management Co. Ltd. boosted its stake in shares of PG&E Co. (NYSE:PCG) by 259.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,850 shares of the utilities provider’s stock after purchasing an additional 44,650 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in PG&E were worth $1,223,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC grew its position in shares of PG&E by 3.5% during the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after buying an additional 614 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of PG&E by 3.1% in the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after buying an additional 666 shares during the last quarter. Alta Advisers Ltd raised its stake in PG&E by 19.5% during the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 800 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in PG&E by 14.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 863 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in PG&E by 9.8% in the third quarter. Signaturefd LLC now owns 11,280 shares of the utilities provider’s stock valued at $223,000 after acquiring an additional 1,009 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently weighed in on PCG. Barclays increased their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group boosted 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, Wells Fargo & Company lifted their price objective on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Trading Up 0.2 %

PCG opened at $21.04 on Friday. The company has a market cap of $55.03 billion, a P/E ratio of 16.44, a price-to-earnings-growth 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 fifty day moving average price of $20.11 and a two-hundred day moving average price of $18.85. 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 posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping 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 the consensus estimate of $6.58 billion. During the same period in the previous year, the firm posted $0.24 earnings per share. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. 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%.

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.