Toronto Dominion Bank Purchases 194,704 Shares of PG&E Co. (NYSE:PCG)

Toronto Dominion Bank raised its holdings in shares of PG&E Co. (NYSE:PCG) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,254,717 shares of the utilities provider’s stock after purchasing an additional 194,704 shares during the period. Toronto Dominion Bank’s holdings in PG&E were worth $24,806,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. FMR LLC boosted its holdings in PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares during the last quarter. King Street Capital Management L.P. bought a new position in PG&E during the 2nd quarter worth approximately $1,964,250,000. State Street Corp grew its holdings in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Massachusetts Financial Services Co. MA increased its stake in PG&E by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Finally, Geode Capital Management LLC raised its holdings in PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on the company. Morgan Stanley raised their price objective 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. Mizuho lifted their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. 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. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Finally, Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Stock Up 0.6 %

NYSE:PCG opened at $19.92 on Friday. The firm has a market capitalization of $52.10 billion, a price-to-earnings ratio of 15.56, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.72. The stock’s 50 day moving average price is $20.52 and its two-hundred day moving average price is $19.24.

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

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a $0.025 dividend. This is a positive change from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 annualized dividend and a yield of 0.50%. PG&E’s dividend payout ratio is currently 3.13%.

Insider Activity

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. 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.