Toronto Dominion Bank Boosts Position in PG&E Co. (PCG)

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Toronto Dominion Bank increased its position in shares of PG&E Co. (NYSE:PCG) by 19.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 331,841 shares of the utilities provider’s stock after buying an additional 54,285 shares during the quarter. Toronto Dominion Bank owned 0.06% of PG&E worth $14,121,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its position in PG&E by 2.8% during the second quarter. State Board of Administration of Florida Retirement System now owns 725,971 shares of the utilities provider’s stock valued at $30,897,000 after purchasing an additional 19,584 shares during the last quarter. Teacher Retirement System of Texas boosted its position in PG&E by 67.9% during the second quarter. Teacher Retirement System of Texas now owns 524,212 shares of the utilities provider’s stock valued at $22,310,000 after purchasing an additional 211,992 shares during the last quarter. Mackay Shields LLC boosted its position in PG&E by 34.9% during the second quarter. Mackay Shields LLC now owns 341,996 shares of the utilities provider’s stock valued at $14,555,000 after purchasing an additional 88,456 shares during the last quarter. Rhumbline Advisers boosted its position in PG&E by 1.7% during the second quarter. Rhumbline Advisers now owns 915,016 shares of the utilities provider’s stock valued at $38,943,000 after purchasing an additional 15,214 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its position in PG&E by 7.8% during the second quarter. Nomura Asset Management Co. Ltd. now owns 88,814 shares of the utilities provider’s stock valued at $3,780,000 after purchasing an additional 6,407 shares during the last quarter. Institutional investors and hedge funds own 81.14% of the company’s stock.

PCG has been the subject of several recent research reports. Wells Fargo & Co raised PG&E from a “market perform” rating to an “outperform” rating in a research report on Monday, August 6th. Morgan Stanley set a $62.00 price target on PG&E and gave the company a “buy” rating in a research report on Tuesday, May 29th. Bank of America reissued a “hold” rating and set a $46.00 price target on shares of PG&E in a research report on Tuesday, May 29th. Citigroup set a $46.00 price target on PG&E and gave the company a “hold” rating in a research report on Tuesday, April 24th. Finally, Zacks Investment Research cut PG&E from a “buy” rating to a “hold” rating in a research report on Tuesday, April 24th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. PG&E currently has a consensus rating of “Hold” and a consensus price target of $52.54.

PCG opened at $45.25 on Friday. PG&E Co. has a 12-month low of $37.30 and a 12-month high of $71.57. The company has a market capitalization of $22.07 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 2.70 and a beta of -0.01. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 0.92.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 26th. The utilities provider reported $1.16 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.22. PG&E had a return on equity of 10.20% and a net margin of 0.80%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period last year, the firm posted $0.86 earnings per share. The business’s revenue was down .4% on a year-over-year basis. equities research analysts anticipate that PG&E Co. will post 3.79 earnings per share for the current fiscal year.

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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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