Cibc World Markets Corp Buys 53,982 Shares of PG&E Co. (NYSE:PCG)

Cibc World Markets Corp grew its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 19.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 337,878 shares of the utilities provider's stock after acquiring an additional 53,982 shares during the period. Cibc World Markets Corp's holdings in PG&E were worth $6,818,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc grew its holdings in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 626 shares during the period. UMB Bank n.a. boosted its stake in PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after purchasing an additional 1,506 shares during the period. First Horizon Advisors Inc. boosted its position in shares of PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after acquiring an additional 4,819 shares during the period. Sierra Ocean LLC bought a new position in shares of PG&E in the fourth quarter valued at approximately $111,000. Finally, Brooklyn Investment Group bought a new stake in shares of PG&E during the 3rd quarter worth $115,000. 78.56% of the stock is owned by institutional investors.

Insider Buying and Selling

In other PG&E 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 value of $532,368.77. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, with a total value 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 represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley boosted their price objective on shares of PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a report on Thursday. Mizuho boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. Guggenheim downgraded shares of PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. Finally, UBS Group downgraded shares of PG&E from a "buy" rating to a "neutral" rating and lowered their price target for the stock from $22.00 to $19.00 in a research note on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and an average price target of $22.05.

PG&E Trading Down 1.7 %

Shares of PCG stock traded down $0.30 during trading hours on Friday, reaching $16.91. The company's stock had a trading volume of 31,887,752 shares, compared to its average volume of 15,152,743. 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 Co. has a one year low of $14.99 and a one year high of $21.72. The stock has a market capitalization of $45.16 billion, a P/E ratio of 14.70, a P/E/G ratio of 1.09 and a beta of 1.04. The firm's fifty day simple moving average is $16.16 and its 200 day simple moving average is $18.79.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Equities research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Monday, March 31st. PG&E's 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.