Sumitomo Mitsui Trust Group Inc. Purchases 64,794 Shares of PG&E Co. (NYSE:PCG)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of PG&E Co. (NYSE:PCG) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,094,874 shares of the utilities provider’s stock after buying an additional 64,794 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in PG&E were worth $100,726,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCG. Rothschild Investment LLC bought a new position in shares of PG&E during the 2nd quarter worth $30,000. UMB Bank n.a. grew its position in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares in the last quarter. Blue Trust Inc. grew its position in shares of PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new position in shares of PG&E during the 2nd quarter worth $44,000. Finally, Massmutual Trust Co. FSB ADV grew its position in shares of PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. UBS Group raised their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Bank of America assumed coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Morgan Stanley raised their price objective on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays raised their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E Trading Up 0.4 %

PG&E stock opened at $21.28 on Thursday. The stock has a 50-day moving average of $20.10 and a two-hundred day moving average of $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 Co. has a one year low of $15.94 and a one year high of $21.51. The stock has a market cap of $55.65 billion, a PE ratio of 16.63, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03.

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

PG&E Announces Dividend

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

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.