Metis Global Partners LLC Boosts Stock Position in PG&E Co. (NYSE:PCG)

Metis Global Partners LLC increased its position in PG&E Co. (NYSE:PCG) by 15.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 151,508 shares of the utilities provider’s stock after buying an additional 20,193 shares during the period. Metis Global Partners LLC’s holdings in PG&E were worth $2,995,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its position in shares of PG&E by 22.6% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 16,165 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 2,982 shares in the last quarter. Empowered Funds LLC raised its stake in shares of PG&E by 8.4% during the first quarter. Empowered Funds LLC now owns 27,994 shares of the utilities provider’s stock valued at $469,000 after acquiring an additional 2,170 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in shares of PG&E in the 1st quarter worth $2,153,000. JPMorgan Chase & Co. lifted its stake in PG&E by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock worth $2,113,882,000 after acquiring an additional 2,176,931 shares during the period. Finally, Cornerstone Advisors LLC bought a new position in shares of PG&E during the first quarter valued at approximately $391,000. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PCG shares. Barclays lifted their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Morgan Stanley lifted their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America initiated coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Jefferies Financial Group started coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Finally, UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Trading Down 1.4 %

Shares of PCG stock opened at $20.99 on Friday. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.51. The firm has a market capitalization of $54.89 billion, a P/E ratio of 16.40, a PEG ratio of 1.63 and a beta of 1.03. The stock’s fifty day moving average is $20.10 and its two-hundred day moving average is $18.83. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS 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 analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter last year, the firm earned $0.24 earnings per share. Research analysts expect 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 issued a $0.01 dividend. 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 presently 3.13%.

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.