Capital International Inc. CA Trims Stake in PG&E Co. (NYSE:PCG)

Capital International Inc. CA decreased its holdings in PG&E Co. (NYSE:PCG - Free Report) by 7.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 223,716 shares of the utilities provider's stock after selling 18,527 shares during the quarter. Capital International Inc. CA's holdings in PG&E were worth $4,515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of PG&E in the fourth quarter worth approximately $591,625,000. Capital Research Global Investors grew its position 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 valued at $944,540,000 after acquiring an additional 19,317,171 shares during the period. Vanguard Group Inc. increased its stake in shares of PG&E by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its holdings in PG&E by 244.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider's stock worth $95,066,000 after purchasing an additional 3,340,599 shares during the period. Finally, Geode Capital Management LLC lifted its position in PG&E by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock valued at $1,046,462,000 after purchasing an additional 2,151,494 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PCG shares. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Jefferies Financial Group raised their price objective on shares of PG&E from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday. BMO Capital Markets dropped their target price on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and decreased their price target for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Morgan Stanley restated an "underweight" rating on shares of PG&E 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 assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $21.32.

PG&E Price Performance

NYSE:PCG traded down $0.25 during trading hours on Friday, reaching $17.14. The stock had a trading volume of 10,347,381 shares, compared to its average volume of 16,424,829. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The stock has a market capitalization of $45.79 billion, a PE ratio of 14.90, a PEG ratio of 1.09 and a beta of 0.70. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a 50 day moving average price of $16.65 and a two-hundred day moving average price of $18.28.

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 the consensus estimate 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 for the quarter, compared to the consensus estimate of $6.23 billion. As a group, sell-side analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

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

Insider Activity

In other news, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the firm's stock in a transaction dated 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 approximately $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

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.