Envestnet Asset Management Inc. Purchases 575,365 Shares of PG&E Co. (NYSE:PCG)

Envestnet Asset Management Inc. boosted its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 93.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,191,123 shares of the utilities provider's stock after buying an additional 575,365 shares during the period. Envestnet Asset Management Inc.'s holdings in PG&E were worth $24,037,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Czech National Bank increased its stake in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock valued at $9,566,000 after acquiring an additional 38,590 shares during the last quarter. New York State Teachers Retirement System increased its stake in shares of PG&E by 8.2% in the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock valued at $39,837,000 after purchasing an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new position in shares of PG&E during the 4th quarter worth $514,000. Atria Wealth Solutions Inc. bought a new stake in shares of PG&E during the 4th quarter worth $466,000. Finally, Merit Financial Group LLC acquired a new stake in PG&E in the fourth quarter valued at about $336,000. 78.56% of the stock is owned by institutional investors.

Insider Transactions at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction dated Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.15% of the company's stock.

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PG&E Trading Up 0.6 %

Shares of NYSE PCG traded up $0.10 during midday trading on Tuesday, reaching $17.16. The stock had a trading volume of 11,010,696 shares, compared to its average volume of 16,289,918. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. 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 company's 50 day moving average price is $16.38 and its 200 day moving average price is $18.40. The firm has a market cap of $45.83 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

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 (EPS) 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 analyst estimates of $7.29 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

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 dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E's payout ratio is 8.70%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on PCG. Barclays dropped their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, Morgan Stanley lifted their price target on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $21.95.

About PG&E

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.