PG&E Co. (NYSE:PCG) Shares Purchased by Bank of Montreal Can

Bank of Montreal Can increased its holdings in shares of PG&E Co. (NYSE:PCG) by 1.8% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 13,566,330 shares of the utilities provider’s stock after purchasing an additional 246,164 shares during the period. Bank of Montreal Can’s holdings in PG&E were worth $268,885,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. DRW Securities LLC grew its position in shares of PG&E by 4,777.0% during the third quarter. DRW Securities LLC now owns 585,291 shares of the utilities provider’s stock worth $11,571,000 after buying an additional 573,290 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in PG&E during the third quarter worth approximately $130,000. Daiwa Securities Group Inc. lifted its position in shares of PG&E by 34.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 371,311 shares of the utilities provider’s stock worth $7,340,000 after buying an additional 94,818 shares during the last quarter. Algert Global LLC boosted its holdings in shares of PG&E by 301.4% in the 3rd quarter. Algert Global LLC now owns 91,868 shares of the utilities provider’s stock valued at $1,816,000 after buying an additional 68,979 shares in the last quarter. Finally, Cerity Partners LLC grew its position in shares of PG&E by 22.7% in the 3rd quarter. Cerity Partners LLC now owns 1,012,443 shares of the utilities provider’s stock valued at $20,016,000 after buying an additional 187,210 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Down 0.9 %

PCG stock opened at $21.19 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company’s 50-day moving average price is $20.29 and its 200 day moving average price is $19.04. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.51. The company has a market cap of $55.40 billion, a P/E ratio of 16.55, a P/E/G ratio of 1.64 and a beta of 1.03.

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

PG&E Announces Dividend

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

Analyst Upgrades and Downgrades

PCG has been the subject of a number of research analyst reports. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. 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 target on the stock. UBS Group increased their price objective on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Morgan Stanley lifted their target price 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company has an average 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.