nVerses Capital LLC Buys New Position in PG&E Co. (NYSE:PCG)

nVerses Capital LLC bought a new stake in shares of PG&E Co. (NYSE:PCG) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 53,900 shares of the utilities provider’s stock, valued at approximately $1,066,000. PG&E accounts for approximately 0.5% of nVerses Capital LLC’s holdings, making the stock its 19th largest position.

A number of other institutional investors also recently made changes to their positions in PCG. King Street Capital Management L.P. bought a new stake in PG&E during the second quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA lifted its holdings in shares of PG&E by 17.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after buying an additional 14,998,472 shares during the period. Vanguard Group Inc. boosted its stake in PG&E by 2.0% during the first quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after buying an additional 5,635,693 shares in the last quarter. Capital International Investors grew its holdings in PG&E by 4.4% during the first quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock worth $2,030,641,000 after acquiring an additional 5,066,183 shares during the period. Finally, Capitolis Liquid Global Markets LLC bought a new stake in PG&E in the first quarter worth about $57,200,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction 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 sale, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

PG&E Stock Down 0.3 %

Shares of PG&E stock traded down $0.07 during midday trading on Thursday, hitting $20.44. The company’s stock had a trading volume of 1,474,256 shares, compared to its average volume of 14,109,025. The firm has a market capitalization of $58.85 billion, a P/E ratio of 18.32, a PEG ratio of 1.50 and a beta of 1.01. PG&E Co. has a 1-year low of $15.59 and a 1-year high of $20.65. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The stock has a 50-day simple moving average of $19.46 and a 200-day simple moving average of $18.31.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm 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 business’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the company posted $0.23 EPS. As a group, sell-side analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

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 $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.20%. PG&E’s dividend payout ratio is presently 3.57%.

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.