Charles Schwab Investment Management Inc. Acquires 119,866 Shares of PG&E Co. (NYSE:PCG)

Charles Schwab Investment Management Inc. grew its holdings in PG&E Co. (NYSE:PCG) by 1.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,559,875 shares of the utilities provider’s stock after purchasing an additional 119,866 shares during the period. Charles Schwab Investment Management Inc.’s holdings in PG&E were worth $228,539,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC bought a new stake in PG&E in the 2nd quarter worth about $30,000. UMB Bank n.a. grew its stake in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. raised its holdings in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares during the last quarter. Plato Investment Management Ltd bought a new position in PG&E during the second quarter valued at approximately $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in PG&E by 48.8% in the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

PCG opened at $21.37 on Friday. The company has a 50 day simple moving average of $20.27 and a two-hundred day simple moving average of $19.00. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The firm has a market cap of $55.89 billion, a P/E ratio of 16.70, a PEG ratio of 1.63 and a beta of 1.03. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51.

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

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued 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 0.19%. PG&E’s dividend payout ratio is presently 3.13%.

Wall Street Analyst Weigh In

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

PG&E 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.