Brooklyn Investment Group Buys Shares of 5,807 PG&E Co. (NYSE:PCG)

Brooklyn Investment Group acquired a new position in PG&E Co. (NYSE:PCG) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 5,807 shares of the utilities provider’s stock, valued at approximately $115,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. FMR LLC increased its stake in shares of PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. King Street Capital Management L.P. purchased a new stake in shares of PG&E in the 2nd quarter worth $1,964,250,000. Massachusetts Financial Services Co. MA increased its stake in shares of PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Bank of Montreal Can increased its stake in shares of PG&E by 1.8% in the 3rd quarter. Bank of Montreal Can now owns 13,566,330 shares of the utilities provider’s stock worth $268,885,000 after purchasing an additional 246,164 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of PG&E by 1.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 11,559,875 shares of the utilities provider’s stock worth $228,539,000 after purchasing an additional 119,866 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Stock Up 0.6 %

Shares of NYSE:PCG opened at $21.63 on Thursday. 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 Co. has a 12 month low of $15.94 and a 12 month high of $21.72. The company has a 50-day moving average price of $20.33 and a 200 day moving average price of $19.07. The company has a market cap of $56.57 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.63 and a beta of 1.03.

PG&E (NYSE:PCG) last announced its quarterly earnings results 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 net margin of 11.11% and a return on equity of 12.51%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, equities research analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.18%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s payout ratio is 3.13%.

Analysts Set New Price Targets

Several research analysts recently weighed in on PCG shares. Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Bank of America began coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, UBS Group increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus price target of $23.10.

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.