PG&E Co. (NYSE:PCG) Shares Purchased by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in PG&E Co. (NYSE:PCG) by 13.6% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,572,325 shares of the utilities provider’s stock after acquiring an additional 1,867,690 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in PG&E were worth $307,865,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. FORA Capital LLC purchased a new stake in PG&E during the 3rd quarter worth about $4,321,000. Glenmede Trust Co. NA boosted its stake in shares of PG&E by 15.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider’s stock worth $415,000 after purchasing an additional 2,878 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of PG&E during the third quarter worth about $115,000. FMR LLC raised its position in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after buying an additional 8,604,396 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of PG&E by 3.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,475,700 shares of the utilities provider’s stock valued at $29,175,000 after buying an additional 55,236 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PCG shares. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays upped their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America initiated coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Finally, Morgan Stanley upped their price target 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. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $23.10.

PG&E Price Performance

PCG opened at $21.63 on Friday. The company has a 50 day moving average of $20.44 and a two-hundred day moving average of $19.13. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The company has a market cap of $56.57 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.66 and a beta of 1.03.

PG&E (NYSE:PCG) last released its quarterly earnings data 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 return on equity of 12.51% and a net margin of 11.11%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the company posted $0.24 earnings per share. The firm’s revenue was up .9% compared to the same quarter last year. On average, analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is presently 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.