PG&E Co. (NYSE:PCG) Holdings Boosted by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in PG&E Co. (NYSE:PCG) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,343,772 shares of the utilities provider’s stock after purchasing an additional 292,919 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.13% of PG&E worth $68,213,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Versant Capital Management Inc raised its position in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the period. UMB Bank n.a. increased its holdings in shares of PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. First Horizon Advisors Inc. lifted its position in shares of PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of PG&E during the fourth quarter worth approximately $111,000. Finally, Exchange Traded Concepts LLC grew its position in PG&E by 32.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,526 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

NYSE PCG opened at $16.98 on Friday. The company has a market cap of $45.35 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04. PG&E Co. has a 1 year low of $14.99 and a 1 year 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. The company has a fifty day simple moving average of $16.21 and a 200 day simple moving average of $18.68.

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

PG&E Dividend Announcement

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

Insider Transactions at PG&E

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost 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 of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’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 value 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 position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of research analyst reports. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. UBS Group lowered 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. Morgan Stanley lifted their price target on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. Finally, Barclays dropped their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.