Vinva Investment Management Increases Stake in PG&E Co.

Vinva Investment Management Ltd has significantly increased its holdings in PG&E Co. (NYSE:PCG) by an impressive 143.5% during the third quarter, as revealed in their latest filing with the Securities and Exchange Commission (SEC). Following this acquisition, the institutional investor now holds a total of 45,625 shares of the utility provider's stock, after purchasing an additional 26,887 shares within the quarter. As per the recent SEC filing, Vinva's stake in PG&E is valued at approximately $904,000.

Institutional Interest in PG&E

Several other institutional investors have also made notable changes to their positions in PG&E. King Street Capital Management L.P. entered the market with a new stake worth approximately $1.96 billion in PG&E during the second quarter. Meanwhile, Massachusetts Financial Services Co. MA increased its position in PG&E by 17.3% during the same period, bringing its total holdings to 101,910,190 shares valued at about $1.78 billion after adding 14,998,472 shares. Additionally, FMR LLC raised its stake in PG&E by 5.1% in the third quarter, owning 176,839,426 shares now worth around $3.50 billion after acquiring 8,604,396 shares. Clearbridge Investments LLC and Marshall Wace LLP also made significant investments in PG&E during the second quarter, with Marshall Wace LLP raising its position by an astounding 2,850.3%, owning 1,946,520 shares valued at about $33.99 million. Currently, institutional investors and hedge funds collectively account for 78.56% of PG&E's stock.

Analyzing PG&E Stock Performance

As of Friday, PG&E shares opened at $21.63. The company has recorded a 50-day simple moving average of $20.44 and a 200-day simple moving average of $19.13. PG&E currently boasts a market capitalization of $56.57 billion, a P/E ratio of 16.90, and a PEG ratio of 1.66, with a beta value of 1.03. The stock's performance has shown a 52-week low of $15.94 and a high of $21.72. PG&E employs a debt-to-equity ratio of 2.02, and its quick and current ratios stand at 0.99 and 1.04, respectively.

Recent Earnings Report

PG&E recently reported its quarterly earnings on November 7th. The utilities company announced earnings of $0.37 per share for the quarter, exceeding analysts' expectations of $0.32 by $0.05. Their return on equity was recorded at 12.51%, with a net margin of 11.11%. For the quarter, PG&E's revenue amounted to $5.94 billion, which fell short of estimates predicting $6.58 billion. However, this revenue marked a 0.9% increase compared to the same quarter last year. Analysts project that PG&E will achieve earnings of 1.36 per share for the current fiscal year.

Dividend Declaration

In addition to its earnings, PG&E declared a quarterly dividend recently. This dividend was paid out on October 15th to investors on record as of September 30th. The quarterly payment totaled $0.01, reflecting an annualized dividend of $0.04 and a yield of 0.18%. Presently, PG&E operates with a dividend payout ratio of 3.13%.

Analyst Ratings and Price Targets

Multiple brokerages have provided insights on PG&E's stock. Morgan Stanley upgraded its price target on PG&E from $19.00 to $20.00, maintaining an "equal weight" rating. Mizuho raised its target from $24.00 to $26.00 with an "outperform" rating. Jefferies Financial Group initiated coverage of PG&E with a buy rating, setting a price target of $24.00. UBS and Barclays also adjusted their price targets upwards to $26.00 and $25.00, respectively, both issuing a buy rating for PG&E stock. Currently, two investment analysts recommend holding PG&E stock, while nine analysts support buying the shares, leading to an average rating of "Moderate Buy" with an estimated price target of $23.10.

About PG&E

PG&E Corporation operates through its subsidiary, Pacific Gas and Electric Company, providing electricity and natural gas services to customers in northern and central California, USA. The company generates electricity through various sources, including nuclear, hydroelectric, fossil fuels, fuel cells, and photovoltaic systems.

investment, stocks, utilities