Commerzbank Aktiengesellschaft FI Invests $230,000 in PG&E Co. (NYSE:PCG)

Commerzbank Aktiengesellschaft FI bought a new position in shares of PG&E Co. (NYSE:PCG) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,628 shares of the utilities provider’s stock, valued at approximately $230,000.

Other large investors also recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in shares of PG&E during the second quarter worth approximately $30,000. UMB Bank n.a. lifted its holdings in PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after buying an additional 1,011 shares during the period. Blue Trust Inc. lifted its holdings in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares during the period. Plato Investment Management Ltd acquired a new position in PG&E in the second quarter valued at approximately $44,000. Finally, Massmutual Trust Co. FSB ADV lifted 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 valued at $63,000 after buying an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PCG shares. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Barclays upped their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday. Finally, Wells Fargo & Company upped their target price on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E Stock Up 0.5 %

Shares of PCG stock opened at $20.68 on Friday. The company has a market capitalization of $54.08 billion, a price-to-earnings ratio of 17.68, a P/E/G ratio of 1.58 and a beta of 1.01. PG&E Co. has a 12-month low of $15.59 and a 12-month high of $20.81. The firm has a fifty day moving average of $19.73 and a 200-day moving average of $18.45. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last released its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.23 earnings per share. As a group, equities research analysts predict that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is currently 3.42%.

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is owned by insiders.

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.