Cerity Partners LLC Has $20.02 Million Stock Position in PG&E Co. (NYSE:PCG)

Cerity Partners LLC increased its holdings in shares of PG&E Co. (NYSE:PCG) by 22.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 1,012,443 shares of the utilities provider’s stock after purchasing an additional 187,210 shares during the period. Cerity Partners LLC’s holdings in PG&E were worth $20,016,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PCG. Rothschild Investment LLC bought a new stake in shares of PG&E in the 2nd quarter worth approximately $30,000. UMB Bank n.a. raised its holdings 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 purchasing an additional 1,011 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares during the period. Plato Investment Management Ltd bought a new position in PG&E during the 2nd quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV grew its stake 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 acquiring an additional 1,179 shares during the period. 78.56% of the stock is owned by institutional investors.

PG&E Stock Up 0.7 %

PG&E stock opened at $21.37 on Monday. The stock has a market cap of $55.89 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.64 and a beta of 1.03. 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 firm’s 50-day simple moving average is $20.27 and its 200 day simple moving average is $19.01. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.51.

PG&E (NYSE:PCG) last announced its quarterly earnings data 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. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same period in the previous year, the business posted $0.24 EPS. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on PCG shares. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Morgan Stanley raised their target price on PG&E from $19.00 to $20.00 and gave the stock 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. According to MarketBeat, PG&E currently has an average rating of “Moderate Buy” and an average target price of $22.80.

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.