BI Asset Management Fondsmaeglerselskab A S Increases Stock Position in PG&E Co. (NYSE:PCG)

BI Asset Management Fondsmaeglerselskab A S grew its stake in PG&E Co. (NYSE:PCG - Free Report) by 20.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 129,883 shares of the utilities provider's stock after buying an additional 21,953 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in PG&E were worth $2,621,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of PCG. Capital Research Global Investors boosted its stake in shares of PG&E by 70.3% during the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after buying an additional 19,317,171 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in PG&E by 9.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,584,262 shares of the utilities provider's stock valued at $153,048,000 after acquiring an additional 670,642 shares during the period. Capital International Sarl increased its stake in shares of PG&E by 34.8% during the fourth quarter. Capital International Sarl now owns 67,087 shares of the utilities provider's stock worth $1,354,000 after purchasing an additional 17,336 shares during the period. CANADA LIFE ASSURANCE Co lifted its holdings in shares of PG&E by 6.6% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 2,838,322 shares of the utilities provider's stock worth $57,299,000 after buying an additional 174,707 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in PG&E by 8.4% in the 4th quarter. NewEdge Advisors LLC now owns 201,369 shares of the utilities provider's stock valued at $4,064,000 after purchasing an additional 15,535 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

PG&E Stock Performance

PCG stock traded down $0.25 during trading on Friday, reaching $17.14. The company had a trading volume of 10,347,381 shares, compared to its average volume of 22,563,814. The company has a market cap of $45.79 billion, a price-to-earnings ratio of 14.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The firm has a 50-day simple moving average of $16.65 and a 200-day simple moving average of $18.28. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.40 by ($0.07). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. As a group, sell-side analysts expect that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E's dividend payout ratio is presently 8.70%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on PCG shares. Guggenheim increased their price objective on shares of PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday. Morgan Stanley restated an "underweight" rating on shares of PG&E in a report on Wednesday. BMO Capital Markets reduced their price objective on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Barclays decreased their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Finally, Jefferies Financial Group lifted their price objective on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $21.32.

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction 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 completion of the sale, the executive vice president now directly owns 183,635 shares of the company's stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased 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 directly owns 14,864 shares of the company's stock, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.

About PG&E

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.