PG&E Co. (NYSE:PCG) Holdings Boosted by Commerce Bank

Commerce Bank raised its position in shares of PG&E Co. (NYSE:PCG) by 1.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,051 shares of the utilities provider’s stock after purchasing an additional 712 shares during the quarter. Commerce Bank’s holdings in PG&E were worth $930,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of PCG. Rothschild Investment LLC purchased a new stake in PG&E in the 2nd quarter worth about $30,000. UMB Bank n.a. increased its stake in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the last quarter. Blue Trust Inc. raised its holdings in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd acquired a new stake in PG&E during the second quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in PG&E by 48.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.7 %

PG&E stock opened at $21.37 on Monday. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.51. The stock has a market cap of $55.89 billion, a price-to-earnings ratio of 16.70, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. The business has a 50 day moving average price of $20.27 and a two-hundred day moving average price of $19.01. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

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

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio is 3.13%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PCG shares. Morgan Stanley increased their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays upped their price target 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. Bank of America started 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. Finally, Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

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.