Groupama Asset Managment Grows Stake in PG&E Co. (NYSE:PCG)

Groupama Asset Managment lifted its stake in PG&E Co. (NYSE:PCG) by 941.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,958,995 shares of the utilities provider’s stock after purchasing an additional 1,770,821 shares during the quarter. Groupama Asset Managment owned 0.07% of PG&E worth $39,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of PG&E during the fourth quarter valued at $591,625,000. Vanguard Group Inc. lifted its position in PG&E by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after purchasing an additional 6,151,233 shares during the period. State Street Corp boosted its holdings 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 purchasing an additional 5,191,463 shares during the last quarter. Brookfield Corp ON raised its stake in PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after buying an additional 3,958,495 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its stake in PG&E by 244.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock valued at $95,066,000 after buying an additional 3,340,599 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

NYSE PCG opened at $17.19 on Tuesday. 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 Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The business has a 50-day moving average price of $16.21 and a 200-day moving average price of $18.65. The firm has a market cap of $45.91 billion, a price-to-earnings ratio of 14.94, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

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 the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the company posted $0.47 EPS. As a group, equities research analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

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

Analysts Set New Price Targets

PCG has been the topic of a number of research reports. Morgan Stanley raised their price target on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Barclays lowered their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, UBS Group downgraded 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 report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

Insider Buying and Selling at PG&E

In other news, Director Arno Lockheart Harris acquired 6,389 shares of the business’s 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 completion of the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction dated 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 in the company, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by 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.