Artemis Investment Management LLP Grows Stock Holdings in PG&E Co. (NYSE:PCG)

Artemis Investment Management LLP increased its holdings in PG&E Co. (NYSE:PCG - Free Report) by 0.9% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,515,569 shares of the utilities provider's stock after purchasing an additional 39,028 shares during the period. PG&E makes up about 1.3% of Artemis Investment Management LLP's holdings, making the stock its 17th biggest holding. Artemis Investment Management LLP owned approximately 0.17% of PG&E worth $91,124,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. King Street Capital Management L.P. bought a new stake in PG&E in the second quarter valued at approximately $1,964,250,000. FMR LLC increased its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider's stock worth $3,496,115,000 after buying an additional 8,604,396 shares during the period. State Street Corp boosted its position in PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after buying an additional 5,191,463 shares during the period. Brookfield Corp ON grew its holdings in PG&E by 45.6% in the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider's stock worth $249,954,000 after acquiring an additional 3,958,495 shares during the last quarter. Finally, Clearbridge Investments LLC purchased a new position in shares of PG&E in the second quarter valued at about $56,679,000. Hedge funds and other institutional investors own 78.56% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PCG shares. BMO Capital Markets initiated coverage on shares of PG&E in a report on Monday, January 13th. They set an "outperform" rating and a $21.00 target price for the company. Morgan Stanley lifted their price objective on PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research report on Wednesday, September 25th. UBS Group decreased their target price on PG&E from $26.00 to $24.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They issued a "buy" rating and a $24.00 price target on the stock. Finally, Barclays decreased their price objective on shares of PG&E from $25.00 to $24.00 and set an "overweight" rating for the company in a report on Tuesday, December 17th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

PG&E Stock Performance

Shares of PCG traded up $0.07 during mid-day trading on Monday, hitting $17.02. 25,721,458 shares of the company traded hands, compared to its average volume of 12,319,955. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a 50-day moving average price of $19.99 and a two-hundred day moving average price of $19.48. The stock has a market cap of $44.51 billion, a price-to-earnings ratio of 13.30, a P/E/G ratio of 1.20 and a beta of 0.98.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $6.58 billion. During the same period in the prior year, the firm earned $0.24 EPS. The company's revenue was up .9% compared to the same quarter last year. Equities analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, December 31st. This is a boost from PG&E's previous quarterly dividend of $0.01. PG&E's dividend payout ratio is 7.81%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares of the company's stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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.