iA Global Asset Management Inc. Purchases 812 Shares of PG&E Co. (NYSE:PCG)

iA Global Asset Management Inc. lifted its position in shares of PG&E Co. (NYSE:PCG) by 2.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,545 shares of the utilities provider’s stock after purchasing an additional 812 shares during the period. iA Global Asset Management Inc.’s holdings in PG&E were worth $624,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC purchased a new stake in PG&E during the second quarter valued at about $30,000. UMB Bank n.a. boosted its holdings in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares during the last quarter. Blue Trust Inc. raised its stake in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new stake in PG&E in the 2nd quarter worth $44,000. Finally, Crewe Advisors LLC lifted its stake in PG&E by 243.0% in the 2nd quarter. Crewe Advisors LLC now owns 4,041 shares of the utilities provider’s stock worth $71,000 after purchasing an additional 2,863 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PCG shares. UBS Group increased 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. Barclays boosted their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Mizuho upped their price target 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. Finally, Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Trading Down 0.5 %

NYSE PCG opened at $20.23 on Tuesday. The company’s 50 day moving average price is $20.52 and its 200 day moving average price is $19.22. The firm has a market capitalization of $52.91 billion, a price-to-earnings ratio of 15.80, a PEG ratio of 1.55 and a beta of 1.01. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a one year low of $15.94 and a one year high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $0.24 EPS. On average, sell-side analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

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

PG&E 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.