FORA Capital LLC Buys Shares of 218,546 PG&E Co. (NYSE:PCG)

FORA Capital LLC purchased a new position in PG&E Co. (NYSE:PCG) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 218,546 shares of the utilities provider’s stock, valued at approximately $4,321,000.

Other large investors also recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in PG&E during the second quarter worth about $30,000. UMB Bank n.a. raised its position in shares of 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 period. Blue Trust Inc. lifted its holdings 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 worth $40,000 after purchasing an additional 1,027 shares during the last quarter. Plato Investment Management Ltd bought a new stake in shares of PG&E in the 2nd quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its position in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays boosted 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, October 21st. Bank of America initiated coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Jefferies Financial Group assumed coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Morgan Stanley raised their target price 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. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Price Performance

PCG traded up $0.14 during trading on Wednesday, reaching $21.65. The stock had a trading volume of 532,189 shares, compared to its average volume of 13,784,411. The stock has a 50 day moving average of $20.33 and a two-hundred day moving average of $19.07. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a market capitalization of $56.62 billion, a price-to-earnings ratio of 16.80, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.66.

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

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. PG&E’s payout ratio is currently 3.13%.

About PG&E

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.