KLP Kapitalforvaltning AS Invests $33.67 Million in PG&E Co. (NYSE:PCG)

KLP Kapitalforvaltning AS purchased a new position in PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,666,700 shares of the utilities provider's stock, valued at approximately $33,669,000. KLP Kapitalforvaltning AS owned approximately 0.06% of PG&E as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Czech National Bank raised its position in PG&E by 8.9% during the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock valued at $9,566,000 after purchasing an additional 38,590 shares during the period. New York State Teachers Retirement System raised its holdings in PG&E by 8.2% during 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 buying an additional 148,860 shares during the period. State Street Corp lifted its position in PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock worth $2,155,093,000 after buying an additional 5,191,463 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in PG&E in the fourth quarter worth $514,000. Finally, Atria Wealth Solutions Inc. bought a new position in PG&E during the fourth quarter valued at $466,000. Institutional investors own 78.56% of the company's stock.

Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were purchased 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 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 purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the company's stock in a transaction dated 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 directly 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 insiders.

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Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Morgan Stanley raised their price target on PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Finally, BMO Capital Markets upped their price objective on PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.05.

PG&E Stock Down 0.5 %

Shares of NYSE PCG traded down $0.09 during trading hours on Thursday, hitting $17.15. 11,950,823 shares of the stock were exchanged, compared to its average volume of 15,119,029. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The firm has a fifty day moving average price of $16.21 and a 200-day moving average price of $18.72. 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 $45.81 billion, a PE ratio of 14.91, a PEG ratio of 1.09 and a beta of 1.04.

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

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend payout ratio (DPR) is presently 8.70%.

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.