KLP Kapitalforvaltning AS Purchases Shares of 1,666,700 PG&E Co. (NYSE:PCG)

KLP Kapitalforvaltning AS purchased a new stake in shares of PG&E Co. (NYSE:PCG) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,666,700 shares of the utilities provider’s stock, valued at approximately $33,669,000. KLP Kapitalforvaltning AS owned approximately 0.06% of PG&E at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Mizuho Securities USA LLC lifted its holdings in PG&E by 49.5% during the fourth quarter. Mizuho Securities USA LLC now owns 207,203 shares of the utilities provider’s stock valued at $4,181,000 after purchasing an additional 68,600 shares in the last quarter. Northwest & Ethical Investments L.P. purchased a new position in PG&E during the fourth quarter valued at approximately $139,000. iA Global Asset Management Inc. lifted its holdings in PG&E by 326.0% during the fourth quarter. iA Global Asset Management Inc. now owns 134,370 shares of the utilities provider’s stock valued at $2,712,000 after purchasing an additional 102,825 shares in the last quarter. Signaturefd LLC lifted its holdings in PG&E by 17.7% during the fourth quarter. Signaturefd LLC now owns 13,278 shares of the utilities provider’s stock valued at $268,000 after purchasing an additional 1,998 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of PG&E by 3.1% during the fourth quarter. Parallel Advisors LLC now owns 37,738 shares of the utilities provider’s stock valued at $762,000 after buying an additional 1,120 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PCG. Morgan Stanley lifted their price objective on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Wednesday. BMO Capital Markets lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. One 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’s stock. Based on data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average price target of $22.05.

Insider Buying and Selling at PG&E

In related news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction dated 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 purchase, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

PG&E Trading Down 1.7 %

Shares of PCG opened at $16.91 on Friday. The company’s fifty day moving average is $16.16 and its 200 day moving average is $18.78. 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 $45.16 billion, a PE ratio of 14.70, a P/E/G ratio of 1.09 and a beta of 1.04. 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 posted its quarterly earnings data 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 business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Sell-side analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

About PG&E

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.