PG&E Co. (NYSE:PCG) Shares Bought by Candriam S.C.A.

Candriam S.C.A. raised its stake in PG&E Co. (NYSE:PCG) by 7.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 279,127 shares of the utilities provider’s stock after acquiring an additional 18,795 shares during the quarter. Candriam S.C.A.’s holdings in PG&E were worth $5,633,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PCG. 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 worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. State Street Corp raised its holdings in shares of 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 last quarter. Brookfield Corp ON grew its position in shares of PG&E by 45.6% in the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after purchasing an additional 3,958,495 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of PG&E by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. Finally, Duff & Phelps Investment Management Co. grew its position in shares of PG&E by 91.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock valued at $79,622,000 after purchasing an additional 1,920,734 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Price Performance

PCG stock opened at $15.97 on Friday. The stock has a 50-day moving average price of $16.75 and a two-hundred day moving average price of $18.96. The company has a market cap of $42.65 billion, a PE ratio of 13.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. 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 issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company 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 quarter in the previous year, the firm posted $0.47 earnings per share. As a group, research analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is presently 8.70%.

Insiders Place Their Bets

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

Analyst Ratings Changes

PCG has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. UBS Group lowered their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E 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.