Cerity Partners LLC Raises Stock Holdings in PG&E Co. (NYSE:PCG)

Cerity Partners LLC boosted its position in shares of PG&E Co. (NYSE:PCG) by 22.7% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,012,443 shares of the utilities provider’s stock after purchasing an additional 187,210 shares during the quarter. Cerity Partners LLC’s holdings in PG&E were worth $20,016,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PCG. King Street Capital Management L.P. bought a new position in shares of PG&E in the second quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA increased its position in shares of PG&E by 2.9% during the third 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 boosted its stake in PG&E by 4.1% in the 2nd quarter. Bank of Montreal Can now owns 13,320,166 shares of the utilities provider’s stock worth $234,701,000 after purchasing an additional 526,645 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in PG&E by 1.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 11,559,875 shares of the utilities provider’s stock valued at $228,539,000 after buying an additional 119,866 shares during the last quarter. Finally, Artemis Investment Management LLP grew its holdings in PG&E by 3.4% during the second quarter. Artemis Investment Management LLP now owns 6,873,401 shares of the utilities provider’s stock worth $120,010,000 after acquiring an additional 223,942 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PCG. Morgan Stanley lifted their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Barclays upped their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. UBS Group increased their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Finally, Jefferies Financial Group began coverage on PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective for the company. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, PG&E presently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E Trading Up 0.7 %

NYSE PCG opened at $21.37 on Monday. The company has a 50-day moving average of $20.27 and a 200-day moving average of $19.01. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.51. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The company has a market cap of $55.89 billion, a P/E ratio of 16.70, a P/E/G ratio of 1.64 and a beta of 1.03.

PG&E (NYSE:PCG) last posted its quarterly earnings data 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 net margin of 11.11% and a return on equity of 12.51%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the firm posted $0.24 earnings per share. As a group, equities analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The business 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. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s dividend payout ratio is presently 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.