Banco Santander S.A. Takes Position in PG&E Co. (NYSE:PCG)

Banco Santander S.A. purchased a new position in PG&E Co. (NYSE:PCG) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 16,517 shares of the utilities provider’s stock, valued at approximately $333,000.

Several other large investors also recently modified their holdings of the company. FMR LLC grew its stake in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares during the period. State Street Corp boosted 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 buying an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in PG&E by 2.9% during 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 buying an additional 2,936,763 shares during the period. Geode Capital Management LLC increased its holdings in PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after buying an additional 536,914 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after buying an additional 1,822,835 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 0.4 %

PCG stock opened at $15.91 on Tuesday. The company has a market capitalization of $42.49 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The business has a 50 day simple moving average of $16.67 and a two-hundred day simple moving average of $18.94.

PG&E (NYSE:PCG) last issued its 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 firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the prior year, the business earned $0.47 earnings per share. Research analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 dividend on an annualized basis and a dividend yield of 0.63%. PG&E’s dividend payout ratio is currently 8.70%.

Analyst Ratings Changes

PCG has been the topic of several analyst reports. Mizuho lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays lowered their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. 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. Finally, Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. One investment 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 MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Buying and Selling

In other 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares of the company’s stock, 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.

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.