Mitsubishi UFJ Trust & Banking Corp cut its holdings in shares of PG&E Co. (NYSE:PCG) by 57.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 483,441 shares of the utilities provider’s stock after selling 645,039 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in PG&E were worth $22,243,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. NEXT Financial Group Inc acquired a new stake in shares of PG&E during the 3rd quarter worth approximately $104,000. FNY Investment Advisers LLC boosted its position in shares of PG&E by 35,614.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the utilities provider’s stock worth $115,000 after acquiring an additional 2,493 shares in the last quarter. Bessemer Group Inc. boosted its position in shares of PG&E by 67.1% during the 3rd quarter. Bessemer Group Inc. now owns 2,893 shares of the utilities provider’s stock worth $133,000 after acquiring an additional 1,162 shares in the last quarter. Gradient Investments LLC acquired a new stake in shares of PG&E during the 2nd quarter worth approximately $146,000. Finally, Destination Wealth Management boosted its position in shares of PG&E by 78.2% during the 3rd quarter. Destination Wealth Management now owns 3,624 shares of the utilities provider’s stock worth $167,000 after acquiring an additional 1,590 shares in the last quarter. 81.57% of the stock is currently owned by institutional investors.
Shares of PG&E stock opened at $26.38 on Friday. PG&E Co. has a fifty-two week low of $17.26 and a fifty-two week high of $55.28. The company has a current ratio of 0.67, a quick ratio of 0.62 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $13.88 billion, a price-to-earnings ratio of 7.17, a P/E/G ratio of 2.00 and a beta of -0.09.
PG&E (NYSE:PCG) last issued its earnings results on Monday, November 5th. The utilities provider reported $1.13 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.01). PG&E had a net margin of 0.89% and a return on equity of 10.17%. The company had revenue of $4.38 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the business earned $1.12 EPS. The business’s quarterly revenue was down 3.0% on a year-over-year basis. Equities analysts anticipate that PG&E Co. will post 3.82 EPS for the current fiscal year.
Several analysts recently issued reports on PCG shares. Wells Fargo & Co upgraded shares of PG&E from a “market perform” rating to an “outperform” rating in a research report on Monday, August 6th. Morgan Stanley reiterated a “buy” rating on shares of PG&E in a research report on Monday, August 27th. Guggenheim upgraded shares of PG&E from a “sell” rating to a “neutral” rating in a research report on Wednesday, August 29th. Bank of America upgraded shares of PG&E from a “neutral” rating to a “buy” rating and increased their price target for the stock from $48.00 to $56.00 in a research report on Tuesday, September 4th. Finally, Evercore ISI upgraded shares of PG&E from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $50.00 to $52.00 in a research report on Tuesday, September 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $46.07.
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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