Massachusetts Financial Services Co. MA Increases Holdings in PG&E Co. (NYSE:PCG)

Massachusetts Financial Services Co. MA boosted its position in PG&E Co. (NYSE:PCG) by 17.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 101,910,190 shares of the utilities provider’s stock after buying an additional 14,998,472 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 3.54% of PG&E worth $1,779,352,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Axxcess Wealth Management LLC grew its holdings in shares of PG&E by 3.5% during the 1st quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock valued at $305,000 after purchasing an additional 614 shares during the last quarter. Ballentine Partners LLC increased its holdings in shares of PG&E by 3.1% in the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after buying an additional 666 shares during the period. Parallel Advisors LLC lifted its stake in shares of PG&E by 2.1% in the 4th quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock valued at $639,000 after acquiring an additional 712 shares during the last quarter. Alta Advisers Ltd boosted its holdings in PG&E by 19.5% during the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 800 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in PG&E by 8.0% during the 1st quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 917 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Stock Up 0.5 %

Shares of NYSE:PCG opened at $19.77 on Monday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $20.65. The firm has a market capitalization of $56.92 billion, a P/E ratio of 17.65 and a beta of 1.01. The stock has a 50 day moving average price of $18.61 and a 200-day moving average price of $17.77.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.23 earnings per share. As a group, equities research analysts anticipate that PG&E Co. will post 1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. Wells Fargo & Company boosted 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. Barclays increased their price target on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. UBS Group boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Finally, Citigroup boosted 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. Three equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.45.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.