Quantbot Technologies LP Has $2.04 Million Holdings in PG&E Co. (NYSE:PCG)

Quantbot Technologies LP boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 85.9% in the first quarter, HoldingsChannel reports. The fund owned 121,972 shares of the utilities provider’s stock after buying an additional 56,370 shares during the quarter. Quantbot Technologies LP’s holdings in PG&E were worth $2,044,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in PG&E by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock worth $4,329,416,000 after acquiring an additional 21,731,911 shares during the period. Capital International Investors boosted its position in PG&E by 7.1% during the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after acquiring an additional 7,681,566 shares during the period. Massachusetts Financial Services Co. MA boosted its position in PG&E by 1.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock worth $1,523,828,000 after acquiring an additional 993,923 shares during the period. Third Point LLC boosted its position in PG&E by 1.8% during the 4th quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock worth $1,043,216,000 after acquiring an additional 1,000,000 shares during the period. Finally, Blackstone Inc. lifted its holdings in shares of PG&E by 1.0% during the 4th quarter. Blackstone Inc. now owns 48,578,945 shares of the utilities provider’s stock valued at $875,878,000 after buying an additional 500,000 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PCG. Barclays reduced their price target on PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a report on Monday, June 17th. The Goldman Sachs Group began coverage on PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target for the company. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $19.00 to $22.00 in a report on Monday, June 10th. Citigroup lifted their price target on PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Finally, Mizuho lifted their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average target price of $20.11.

PG&E Stock Performance

Shares of PCG stock traded up $0.16 during trading on Friday, reaching $18.13. The company had a trading volume of 14,169,717 shares, compared to its average volume of 14,656,458. The firm’s 50 day simple moving average is $17.97 and its two-hundred day simple moving average is $17.24. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. PG&E Co. has a one year low of $14.71 and a one year high of $18.95. The company has a market capitalization of $52.19 billion, a PE ratio of 16.18 and a beta of 1.08.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business earned $0.29 EPS. Sell-side analysts forecast that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date is Friday, June 28th. PG&E’s dividend payout ratio is currently 3.57%.

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.