CANADA LIFE ASSURANCE Co Grows Stock Position in PG&E Co. (NYSE:PCG)

CANADA LIFE ASSURANCE Co lifted its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,838,322 shares of the utilities provider's stock after acquiring an additional 174,707 shares during the quarter. CANADA LIFE ASSURANCE Co owned 0.11% of PG&E worth $57,299,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Norges Bank bought a new position in PG&E during the fourth quarter valued at about $591,625,000. Vanguard Group Inc. grew its position in shares of PG&E by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock valued at $5,132,964,000 after acquiring an additional 6,151,233 shares during the period. Mitsubishi UFJ Trust & Banking Corp grew its position in shares of 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 acquiring an additional 3,340,599 shares during the period. Geode Capital Management LLC increased its stake in shares of PG&E by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock worth $1,046,462,000 after purchasing an additional 2,151,494 shares during the last quarter. Finally, Cbre Investment Management Listed Real Assets LLC raised its holdings in shares of PG&E by 40.0% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 6,290,147 shares of the utilities provider's stock worth $126,935,000 after purchasing an additional 1,795,789 shares during the period. 78.56% of the stock is currently owned by institutional investors.

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 cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company's stock, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction dated Tuesday, March 4th. The shares were 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 $3,006,104.95. This trade 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 company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Morgan Stanley raised their target price on PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. 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. Barclays cut 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. Guggenheim lowered shares of PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets reduced 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, April 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $21.95.

PG&E Price Performance

NYSE:PCG traded down $0.11 during trading hours on Wednesday, hitting $17.33. The stock had a trading volume of 5,461,501 shares, compared to its average volume of 16,360,740. The firm has a market capitalization of $46.29 billion, a price-to-earnings ratio of 15.07, a P/E/G ratio of 1.09 and a beta of 0.70. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a 50 day simple moving average of $16.56 and a two-hundred day simple moving average of $18.30. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG - Get Free Report) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS 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 analysts' expectations of $7.29 billion. During the same period in the previous year, the business earned $0.47 earnings per share. Research analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors 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 of this dividend was Monday, March 31st. PG&E's dividend payout ratio is currently 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.