DnB Asset Management AS Acquires 39,873 Shares of PG&E Co. (NYSE:PCG)

DnB Asset Management AS raised its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 8.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 520,867 shares of the utilities provider's stock after purchasing an additional 39,873 shares during the period. DnB Asset Management AS's holdings in PG&E were worth $10,511,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of PCG. Versant Capital Management Inc lifted its stake in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after buying an additional 626 shares in the last quarter. UMB Bank n.a. raised its holdings in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock valued at $80,000 after acquiring an additional 1,506 shares during the period. First Horizon Advisors Inc. lifted its position in shares of PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after acquiring an additional 4,819 shares in the last quarter. Sierra Ocean LLC bought a new position in shares of PG&E in the fourth quarter worth $111,000. Finally, Exchange Traded Concepts LLC grew its position in shares of PG&E by 32.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider's stock valued at $126,000 after purchasing an additional 1,526 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

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PG&E Price Performance

NYSE PCG traded down $0.04 during trading hours on Thursday, reaching $17.39. 7,740,093 shares of the stock traded hands, compared to its average volume of 23,264,729. The stock has a 50 day simple moving average of $16.23 and a two-hundred day simple moving average of $18.63. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $46.45 billion, a price-to-earnings ratio of 15.12, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

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

PG&E Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. 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 report on Wednesday, March 19th. Morgan Stanley upped their target price on shares of PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a report on Thursday, March 20th. Barclays cut their price target on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets upped their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $22.05.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now directly owns 14,864 shares of the company's stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now owns 183,635 shares of the company's stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

PG&E 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.