Bank of Montreal Can Grows Stock Position in PG&E Co. (NYSE:PCG)

Bank of Montreal Can grew its stake in PG&E Co. (NYSE:PCG) by 1.8% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 13,566,330 shares of the utilities provider’s stock after buying an additional 246,164 shares during the quarter. Bank of Montreal Can owned 0.52% of PG&E worth $268,885,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Rothschild Investment LLC acquired a new stake in shares of PG&E during the 2nd quarter valued at about $30,000. UMB Bank n.a. increased its stake in 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. 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 acquiring an additional 1,027 shares during the last quarter. Plato Investment Management Ltd acquired a new stake in shares of PG&E in the second quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of PG&E by 48.8% during 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 in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 0.9 %

PCG opened at $21.19 on Tuesday. The stock has a market capitalization of $55.40 billion, a PE ratio of 16.55, a P/E/G ratio of 1.64 and a beta of 1.03. PG&E Co. has a one year low of $15.94 and a one year high of $21.51. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The business’s 50 day moving average price is $20.29 and its 200 day moving average price is $19.04.

PG&E (NYSE:PCG) last announced 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 business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.24 EPS. As a group, equities research analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.19%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Analyst Ratings Changes

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

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.