Groupama Asset Managment Has $3.72 Million Stake in PG&E Co. (NYSE:PCG)

Groupama Asset Managment lessened its stake in shares of PG&E Co. (NYSE:PCG) by 5.7% during the third quarter, Holdings Channel reports. The fund owned 188,174 shares of the utilities provider’s stock after selling 11,350 shares during the quarter. Groupama Asset Managment’s holdings in PG&E were worth $3,720,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. King Street Capital Management L.P. bought a new position in shares of PG&E in the second quarter valued at $1,964,250,000. Massachusetts Financial Services Co. MA raised its holdings in shares of PG&E by 17.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after purchasing an additional 14,998,472 shares during the last quarter. FMR LLC raised its holdings in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp raised its position in PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares during the period. Finally, Brookfield Corp ON raised its position in PG&E by 45.6% in the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after acquiring an additional 3,958,495 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of NYSE:PCG opened at $20.33 on Monday. The company has a 50 day moving average of $20.51 and a 200 day moving average of $19.21. The stock has a market cap of $53.17 billion, a P/E ratio of 15.88, a P/E/G ratio of 1.55 and a beta of 1.01. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.72. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The company 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%. PG&E’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.24 earnings per share. As a group, sell-side analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 annualized dividend and a yield of 0.49%. This is a boost from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is currently 3.13%.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on PCG shares. UBS Group lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Jefferies Financial Group assumed coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Morgan Stanley boosted their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Bank of America assumed coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Finally, Barclays boosted their price target on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $23.10.

PG&E Company 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.