Quantinno Capital Management LP Buys 19,709 Shares of PG&E Co. (NYSE:PCG)

Quantinno Capital Management LP raised its stake in PG&E Co. (NYSE:PCG) by 31.8% during the 3rd quarter, Holdings Channel reports. The fund owned 81,594 shares of the utilities provider’s stock after acquiring an additional 19,709 shares during the period. Quantinno Capital Management LP’s holdings in PG&E were worth $1,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Royal London Asset Management Ltd. increased its stake in shares of PG&E by 2.4% during the third quarter. Royal London Asset Management Ltd. now owns 1,228,937 shares of the utilities provider’s stock worth $24,296,000 after purchasing an additional 28,381 shares during the period. IHT Wealth Management LLC acquired a new position in PG&E in the 3rd quarter valued at $262,000. Integrated Wealth Concepts LLC increased its position in PG&E by 55.1% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 31,990 shares of the utilities provider’s stock worth $632,000 after buying an additional 11,366 shares during the period. Investment Management Corp of Ontario lifted its holdings in shares of PG&E by 49.4% during the third quarter. Investment Management Corp of Ontario now owns 67,456 shares of the utilities provider’s stock worth $1,334,000 after buying an additional 22,300 shares in the last quarter. Finally, Janus Henderson Group PLC boosted its position in shares of PG&E by 11.9% in the third quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider’s stock valued at $6,646,000 after acquiring an additional 35,700 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented 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 report on Wednesday, September 25th. Barclays lifted their price target on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group started coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. UBS Group lifted their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Finally, Mizuho increased their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Two equities 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, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Trading Down 0.3 %

Shares of PCG opened at $19.82 on Thursday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The firm has a market cap of $51.82 billion, a price-to-earnings ratio of 15.48, a PEG ratio of 1.55 and a beta of 1.01. The business’s fifty day moving average is $20.51 and its 200-day moving average is $19.24.

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

PG&E Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.025 dividend. This is an increase from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, December 31st. This represents a $0.10 annualized dividend and a yield of 0.50%. PG&E’s dividend payout ratio is presently 7.81%.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company 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.