PG&E Co. (NYSE:PCG) Holdings Lifted by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA boosted its holdings in PG&E Co. (NYSE:PCG) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,385,629 shares of the utilities provider’s stock after acquiring an additional 82,705 shares during the quarter. Pictet Asset Management Holding SA owned about 0.66% of PG&E worth $350,842,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Nomura Asset Management Co. Ltd. raised its holdings in shares of PG&E by 0.8% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 604,836 shares of the utilities provider’s stock worth $12,206,000 after purchasing an additional 4,581 shares in the last quarter. Duff & Phelps Investment Management Co. grew its position in PG&E by 22.4% in the fourth quarter. Duff & Phelps Investment Management Co. now owns 4,931,520 shares of the utilities provider’s stock worth $99,518,000 after buying an additional 904,086 shares during the last quarter. Norges Bank acquired a new position in PG&E in the fourth quarter worth approximately $591,625,000. Caisse Des Depots ET Consignations bought a new position in shares of PG&E in the fourth quarter valued at $4,598,000. Finally, NEOS Investment Management LLC lifted its position in shares of PG&E by 31.6% during the 4th quarter. NEOS Investment Management LLC now owns 129,599 shares of the utilities provider’s stock valued at $2,615,000 after acquiring an additional 31,111 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the 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 acquisition, the director now owns 14,864 shares of the company’s stock, valued at approximately $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 company insiders.

PG&E Stock Down 0.5 %

PG&E stock opened at $17.15 on Friday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market cap of $45.81 billion, a PE ratio of 14.91, a P/E/G ratio of 1.09 and a beta of 1.04. The firm’s 50 day moving average price is $16.21 and its two-hundred day moving average price is $18.70.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same period in the prior year, the business posted $0.47 earnings per share. On average, research analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. PG&E’s dividend payout ratio is 8.70%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PCG shares. BMO Capital Markets lifted their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, Morgan Stanley upped their price target on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average price target of $22.05.

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.