IFM Investors Pty Ltd Has $15.18 Million Stake in PG&E Co. (NYSE:PCG)

IFM Investors Pty Ltd increased its position in PG&E Co. (NYSE:PCG) by 9.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 767,668 shares of the utilities provider’s stock after buying an additional 63,489 shares during the period. IFM Investors Pty Ltd’s holdings in PG&E were worth $15,177,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axxcess Wealth Management LLC raised its holdings in PG&E by 3.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 614 shares during the period. Ballentine Partners LLC grew its position 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 valued at $392,000 after purchasing an additional 666 shares during the last quarter. Alta Advisers Ltd increased its stake in shares of PG&E by 19.5% in the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 800 shares during the period. EverSource Wealth Advisors LLC lifted its position in shares of PG&E by 14.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 863 shares during the last quarter. Finally, Meeder Advisory Services Inc. boosted its stake 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 valued at $207,000 after purchasing an additional 917 shares during the period. Institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCG. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Jefferies Financial Group assumed 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. Wells Fargo & Company raised their price target on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Morgan Stanley increased their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $22.80.

PG&E Stock Performance

NYSE:PCG opened at $20.68 on Friday. The firm has a market capitalization of $54.08 billion, a PE ratio of 17.68, a price-to-earnings-growth ratio of 1.58 and a beta of 1.01. 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 Co. has a 12-month low of $15.59 and a 12-month high of $20.81. The firm has a 50-day moving average price of $19.73 and a 200 day moving average price of $18.45.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. PG&E’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.23 EPS. Research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s dividend payout ratio is currently 3.42%.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the business’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 sale, the vice president now owns 19,114 shares in the company, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.15% of the company’s stock.

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.