Vinva Investment Management Ltd Boosts Stock Holdings in PG&E Co. (NYSE:PCG)

Vinva Investment Management Ltd boosted its position in shares of PG&E Co. (NYSE:PCG) by 143.5% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 45,625 shares of the utilities provider’s stock after buying an additional 26,887 shares during the period. Vinva Investment Management Ltd’s holdings in PG&E were worth $904,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Tokio Marine Asset Management Co. Ltd. increased its stake in PG&E by 259.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after buying an additional 44,650 shares in the last quarter. Scientech Research LLC purchased a new stake in PG&E during the 2nd quarter worth approximately $1,122,000. Allspring Global Investments Holdings LLC increased its stake in PG&E by 808.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after buying an additional 1,106,200 shares in the last quarter. Van ECK Associates Corp increased its stake in PG&E by 23.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider’s stock worth $24,230,000 after buying an additional 265,694 shares in the last quarter. Finally, Creative Planning increased its stake in PG&E by 39.6% during the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock worth $1,944,000 after buying an additional 31,573 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on PCG shares. Morgan Stanley boosted their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Barclays boosted their target price on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Bank of America started coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. UBS Group boosted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Finally, Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Stock Performance

PCG opened at $21.63 on Friday. The stock has a market capitalization of $56.57 billion, a PE ratio of 16.90, a P/E/G ratio of 1.66 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The business’s 50 day moving average price is $20.44 and its 200 day moving average price is $19.13.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, equities research analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given 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 payout ratio is 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.