PG&E Co. (NYSE:PCG) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc grew its holdings in PG&E Co. (NYSE:PCG - Free Report) by 6.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 331,470 shares of the utilities provider's stock after acquiring an additional 20,031 shares during the period. CIBC Asset Management Inc's holdings in PG&E were worth $6,689,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. FMR LLC raised its position in PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider's stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the period. State Street Corp lifted its holdings in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider's stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Geode Capital Management LLC lifted its holdings in PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider's stock valued at $981,960,000 after purchasing an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP lifted its holdings in PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider's stock valued at $598,142,000 after purchasing an additional 1,822,835 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on PCG. UBS Group decreased their price objective on shares of PG&E from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Mizuho raised their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Morgan Stanley downgraded shares of PG&E from an "equal weight" rating to an "underweight" rating and decreased their price target for the stock from $20.00 to $16.50 in a research note on Friday, February 14th. BMO Capital Markets raised their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Barclays decreased their price target on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $22.23.

PG&E Price Performance

Shares of NYSE:PCG traded up $0.21 on Friday, reaching $15.90. 12,183,627 shares of the company were exchanged, compared to its average volume of 27,638,523. The company has a 50-day moving average of $17.57 and a 200-day moving average of $19.12. The firm has a market cap of $42.46 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share 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 business had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter last year, the business posted $0.47 earnings per share. Equities analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. PG&E's dividend payout ratio (DPR) is presently 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.