Cbre Investment Management Listed Real Assets LLC Acquires 1,795,789 Shares of PG&E Co. (NYSE:PCG)

Cbre Investment Management Listed Real Assets LLC boosted its holdings in PG&E Co. (NYSE:PCG) by 40.0% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,290,147 shares of the utilities provider’s stock after purchasing an additional 1,795,789 shares during the quarter. PG&E accounts for 2.2% of Cbre Investment Management Listed Real Assets LLC’s investment portfolio, making the stock its 12th biggest holding. Cbre Investment Management Listed Real Assets LLC’s holdings in PG&E were worth $126,935,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of PG&E by 4,623.1% during the 3rd quarter. International Assets Investment Management LLC now owns 34,006 shares of the utilities provider’s stock worth $672,000 after buying an additional 33,286 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in shares of PG&E by 17.6% during the 3rd quarter. Janney Montgomery Scott LLC now owns 80,874 shares of the utilities provider’s stock worth $1,599,000 after buying an additional 12,092 shares in the last quarter. National Pension Service lifted its position in shares of PG&E by 3.1% during the 3rd quarter. National Pension Service now owns 2,893,429 shares of the utilities provider’s stock worth $57,203,000 after buying an additional 85,983 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of PG&E by 98.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after buying an additional 2,154 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of PG&E by 6.6% during the 3rd quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider’s stock worth $53,816,000 after buying an additional 169,503 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

PCG has been the subject of several research analyst reports. Barclays decreased their price target 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, January 27th. Mizuho lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. UBS Group dropped their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $20.00 to $16.50 in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average price target of $22.23.

PG&E Price Performance

PCG stock opened at $16.15 on Wednesday. The firm’s 50-day moving average price is $16.99 and its two-hundred day moving average price is $19.01. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The stock has a market capitalization of $43.13 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.09 and a beta of 0.99. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. As a group, equities analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Insider Buying and Selling at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E Company Profile

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.