Forsta AP Fonden Grows Stock Holdings in PG&E Co. (NYSE:PCG)

Forsta AP Fonden grew its stake in PG&E Co. (NYSE:PCG) by 1.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 392,500 shares of the utilities provider’s stock after purchasing an additional 4,900 shares during the period. Forsta AP Fonden’s holdings in PG&E were worth $7,921,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in PCG. Czech National Bank increased its stake in shares of PG&E by 8.9% in the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after acquiring an additional 38,590 shares during the last quarter. State Street Corp grew its holdings in shares of PG&E by 5.0% in 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. Tokio Marine Asset Management Co. Ltd. increased its position in PG&E by 259.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after purchasing an additional 44,650 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in PG&E during the fourth quarter worth about $514,000. Finally, Creative Planning boosted its holdings in PG&E by 39.6% in the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock valued at $1,944,000 after purchasing an additional 31,573 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCG has been the topic of several analyst reports. Jefferies Financial Group assumed coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. BMO Capital Markets began coverage on PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price on the stock. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group reduced their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday. Finally, Barclays lowered their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average price target of $22.36.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

PG&E Price Performance

PG&E stock opened at $15.68 on Friday. The company’s 50 day moving average is $19.24 and its two-hundred day moving average is $19.41. The firm has a market cap of $40.99 billion, a PE ratio of 12.25, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. 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 52-week low of $15.52 and a 52-week high of $21.72.

PG&E (NYSE:PCG) last released its earnings results 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 firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the business posted $0.24 earnings per share. PG&E’s revenue was up .9% compared to the same quarter last year. On average, research analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.64%. This is a positive change from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, December 31st. PG&E’s dividend payout ratio is presently 7.81%.

About PG&E

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.