Czech National Bank Increases Stock Holdings in PG&E Co. (NYSE:PCG)

Czech National Bank lifted its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 8.9% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 474,013 shares of the utilities provider's stock after acquiring an additional 38,590 shares during the period. Czech National Bank's holdings in PG&E were worth $9,566,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. King Street Capital Management L.P. purchased a new position in shares of PG&E in the second quarter worth $1,964,250,000. Massachusetts Financial Services Co. MA increased its holdings in shares of PG&E by 17.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider's stock valued at $1,779,352,000 after purchasing an additional 14,998,472 shares during the period. FMR LLC raised its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider's stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp lifted its holdings in shares of PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Finally, Brookfield Corp ON lifted its holdings in shares of PG&E by 45.6% during the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider's stock worth $249,954,000 after purchasing an additional 3,958,495 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is currently owned by insiders.

PG&E Price Performance

NYSE PCG remained flat at $16.22 during trading hours on Tuesday. The company had a trading volume of 47,378,304 shares, compared to its average volume of 35,167,016. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.72. The firm has a fifty day moving average price of $20.28 and a 200-day moving average price of $19.49. The stock has a market capitalization of $42.42 billion, a price-to-earnings ratio of 12.67, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98.

PG&E (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.24 EPS. Equities analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be paid a $0.025 dividend. The ex-dividend date is Tuesday, December 31st. This is a positive change from PG&E's previous quarterly dividend of $0.01. This represents a $0.10 dividend on an annualized basis and a yield of 0.62%. PG&E's dividend payout ratio (DPR) is currently 7.81%.

Analyst Ratings Changes

A number of research firms have issued reports on PCG. UBS Group reduced their price target on shares of PG&E from $26.00 to $24.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a report on Wednesday, September 25th. Barclays lowered their price target on shares of PG&E from $25.00 to $24.00 and set an "overweight" rating on the stock in a report on Tuesday, December 17th. BMO Capital Markets began coverage on PG&E in a research note on Monday. They set an "outperform" rating and a $21.00 price objective for the company. Finally, Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They issued a "buy" rating and a $24.00 price objective for the company. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, PG&E presently has a consensus rating of "Moderate Buy" and an average price target of $22.64.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.