iA Global Asset Management Inc. Acquires 102,825 Shares of PG&E Co. (NYSE:PCG)

iA Global Asset Management Inc. raised its holdings in PG&E Co. (NYSE:PCG - Free Report) by 326.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,370 shares of the utilities provider's stock after buying an additional 102,825 shares during the quarter. iA Global Asset Management Inc.'s holdings in PG&E were worth $2,712,000 as of its most recent SEC filing.

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and cut their target price for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. Barclays reduced their price target on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a research report on Monday, January 27th. Morgan Stanley upped 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, March 20th. Finally, BMO Capital Markets lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.05.

Remove Ads

Insider Transactions at PG&E

In related news, Director Arno Lockheart Harris bought 6,389 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

PG&E Price Performance

NYSE:PCG traded down $0.08 during mid-day trading on Tuesday, hitting $17.04. 13,877,472 shares of the stock traded hands, compared to its average volume of 15,139,055. The business's 50-day moving average price is $16.18 and its 200 day moving average price is $18.75. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market cap of $45.52 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) 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 for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the business posted $0.47 earnings per share. On average, analysts expect that PG&E Co. will post 1.49 EPS 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. Stockholders of record on Monday, March 31st will be given a dividend of $0.025 per share. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. 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.