PG&E Co. (NYSE:PCG) Holdings Lifted by National Bank of Canada FI

National Bank of Canada FI raised its holdings in shares of PG&E Co. (NYSE:PCG) by 6.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,222,983 shares of the utilities provider’s stock after acquiring an additional 143,554 shares during the quarter. National Bank of Canada FI owned approximately 0.08% of PG&E worth $44,828,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in PCG. Czech National Bank lifted its holdings in shares of PG&E by 8.9% during the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after buying an additional 38,590 shares during the last quarter. New York State Teachers Retirement System lifted its stake in PG&E by 8.2% in the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after acquiring an additional 148,860 shares during the last quarter. State Street Corp grew its position in 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 in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of PG&E during the 4th quarter worth $514,000. Finally, Atria Wealth Solutions Inc. bought a new position in shares of PG&E during the 4th quarter valued at $466,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. BMO Capital Markets upped their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Morgan Stanley increased their price objective on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Barclays decreased their target price 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. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price target 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 given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.05.

PG&E Stock Up 0.9 %

NYSE PCG opened at $17.42 on Thursday. 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 stock has a market cap of $46.53 billion, a PE ratio of 15.15, a PEG ratio of 1.09 and a beta of 1.04. The firm has a 50-day simple moving average of $16.23 and a 200 day simple moving average of $18.63.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The business 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 period in the previous year, the business posted $0.47 earnings per share. On average, research analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

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 issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.57%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is 8.70%.

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.