DnB Asset Management AS Has $10.51 Million Stock Position in PG&E Co. (NYSE:PCG)

DnB Asset Management AS boosted its stake in PG&E Co. (NYSE:PCG) by 8.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 520,867 shares of the utilities provider’s stock after purchasing an additional 39,873 shares during the quarter. DnB Asset Management AS’s holdings in PG&E were worth $10,511,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. The Manufacturers Life Insurance Company raised its position in shares of PG&E by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,475,700 shares of the utilities provider’s stock valued at $29,175,000 after buying an additional 55,236 shares in the last quarter. Glenmede Trust Co. NA raised its position in PG&E by 15.9% during the third quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 2,878 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in PG&E by 13.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,572,325 shares of the utilities provider’s stock worth $307,865,000 after purchasing an additional 1,867,690 shares during the last quarter. Vinva Investment Management Ltd boosted its holdings in shares of PG&E by 143.5% in the 3rd quarter. Vinva Investment Management Ltd now owns 45,625 shares of the utilities provider’s stock valued at $904,000 after purchasing an additional 26,887 shares in the last quarter. Finally, Rockefeller Capital Management L.P. increased its stake in shares of PG&E by 3.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider’s stock valued at $544,000 after purchasing an additional 928 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 1.0 %

Shares of PCG opened at $16.98 on Friday. The company has a market capitalization of $45.35 billion, a PE ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04. The stock’s 50-day moving average price is $16.21 and its two-hundred day moving average price is $18.68. 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 Co. has a 12 month low of $14.99 and a 12 month high of $21.72.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the prior year, the business posted $0.47 earnings per share. On average, analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. PG&E’s payout ratio is currently 8.70%.

Insider Buying and Selling at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

PCG has been the subject of several recent analyst reports. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Barclays reduced their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Morgan Stanley raised their target price on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.05.

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.