PG&E Co. (NYSE:PCG) Shares Acquired by Prudential PLC

Prudential PLC increased its position in shares of PG&E Co. (NYSE:PCG) by 581.7% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 207,154 shares of the utilities provider’s stock after purchasing an additional 176,764 shares during the quarter. Prudential PLC’s holdings in PG&E were worth $4,180,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Czech National Bank raised its stake 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 worth $9,566,000 after buying an additional 38,590 shares during the last quarter. New York State Teachers Retirement System increased its holdings in PG&E by 8.2% during the 4th 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 in the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in PG&E during the fourth quarter worth about $514,000. Atria Wealth Solutions Inc. purchased a new stake in shares of PG&E in the fourth quarter valued at about $466,000. Finally, Merit Financial Group LLC acquired a new stake in shares of PG&E in the fourth quarter valued at approximately $336,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at PG&E

In related news, Director Arno Lockheart Harris bought 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Also, 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 value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PCG. Morgan Stanley increased their target price on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. 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. BMO Capital Markets boosted their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, Barclays cut their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research 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’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Stock Performance

NYSE:PCG opened at $16.46 on Friday. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm’s 50 day moving average is $16.25 and its two-hundred day moving average is $18.58. The company has a market cap of $43.97 billion, a P/E ratio of 14.31, a P/E/G ratio of 1.09 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

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, meeting analysts’ consensus estimates of $0.31. The firm 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 quarter last year, the firm earned $0.47 earnings per share. Analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.61%. PG&E’s payout ratio is 8.70%.

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.