Bessemer Group Inc. Raises Holdings in PG&E Co. (NYSE:PCG)

Bessemer Group Inc. grew its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 11.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,226,564 shares of the utilities provider's stock after buying an additional 1,471,499 shares during the period. Bessemer Group Inc. owned 0.54% of PG&E worth $287,092,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc grew its position in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after purchasing an additional 626 shares in the last quarter. UMB Bank n.a. grew its holdings in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock valued at $80,000 after buying an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after buying an additional 4,819 shares during the last quarter. Sierra Ocean LLC purchased a new position in shares of PG&E in the fourth quarter worth $111,000. Finally, Huntington National Bank boosted its position in shares of PG&E by 24.9% during the fourth quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock worth $122,000 after acquiring an additional 1,205 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

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PG&E Price Performance

Shares of PG&E stock traded up $0.19 on Monday, hitting $17.11. 4,103,303 shares of the company were exchanged, compared to its average volume of 16,262,227. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $45.71 billion, a price-to-earnings ratio of 14.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The company has a 50-day moving average price of $16.35 and a 200 day moving average price of $18.42.

PG&E (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the company earned $0.47 earnings per share. As a group, sell-side analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal 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 paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E's payout ratio is 8.70%.

Insider Activity at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the 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 transaction, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. 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 the business's stock in a transaction dated 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 transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on PCG shares. UBS Group downgraded shares of PG&E from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Guggenheim downgraded shares of PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. BMO Capital Markets dropped their price objective on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday. JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Finally, Morgan Stanley lifted their price target on PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $21.95.

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.