PG&E Co. (NYSE:PCG) Shares Bought by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PG&E Co. (NYSE:PCG) by 13.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,572,325 shares of the utilities provider’s stock after buying an additional 1,867,690 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.60% of PG&E worth $307,865,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of PG&E by 259.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after acquiring an additional 44,650 shares during the period. Scientech Research LLC purchased a new stake in PG&E in the 2nd quarter valued at $1,122,000. Allspring Global Investments Holdings LLC boosted its stake in PG&E by 808.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after purchasing an additional 1,106,200 shares during the period. Van ECK Associates Corp boosted its stake in PG&E by 23.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider’s stock worth $24,230,000 after purchasing an additional 265,694 shares during the period. Finally, Creative Planning grew its position in PG&E by 39.6% during the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock worth $1,944,000 after purchasing an additional 31,573 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $21.63 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The business has a fifty day moving average of $20.44 and a two-hundred day moving average of $19.13. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The company has a market cap of $56.57 billion, a P/E ratio of 16.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.24 EPS. As a group, analysts predict that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.18%. PG&E’s payout ratio is 3.13%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Mizuho increased their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays increased their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Bank of America started coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Finally, Morgan Stanley boosted their price objective 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

About PG&E

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.