PG&E Co. (NYSE:PCG) Position Increased by Columbus Hill Capital Management L.P.

Columbus Hill Capital Management L.P. grew its stake in PG&E Co. (NYSE:PCG) by 19.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,749,449 shares of the utilities provider’s stock after buying an additional 280,000 shares during the period. PG&E accounts for 6.9% of Columbus Hill Capital Management L.P.’s holdings, making the stock its 5th biggest position. Columbus Hill Capital Management L.P. owned 0.07% of PG&E worth $35,304,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank purchased a new position in PG&E in the 4th quarter worth $591,625,000. Vanguard Group Inc. raised its stake in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares during the last quarter. Brookfield Corp ON lifted its holdings in shares of PG&E by 45.6% during the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after purchasing an additional 3,958,495 shares during the period. Mitsubishi UFJ Trust & Banking Corp boosted its position in PG&E by 244.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock valued at $95,066,000 after buying an additional 3,340,599 shares during the last quarter. Finally, Geode Capital Management LLC increased its holdings in PG&E by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock worth $1,046,462,000 after buying an additional 2,151,494 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm’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 completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on PCG shares. UBS Group lowered shares of PG&E from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. BMO Capital Markets boosted their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Finally, Morgan Stanley lifted their target price on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

PG&E Stock Performance

NYSE:PCG opened at $16.46 on Friday. The company has a fifty day moving average of $16.25 and a two-hundred day moving average of $18.58. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The stock has a market capitalization of $43.97 billion, a PE ratio of 14.31, a P/E/G ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share 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 analyst estimates of $7.29 billion. During the same period last year, the company posted $0.47 EPS. As a group, research analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.61%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

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.