PG&E Co. (NYSE:PCG) Shares Purchased by Korea Investment CORP

Korea Investment CORP raised its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 80.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,501,330 shares of the utilities provider's stock after purchasing an additional 667,584 shares during the period. Korea Investment CORP owned 0.06% of PG&E worth $30,297,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company grew its holdings in shares of PG&E by 3.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,475,700 shares of the utilities provider's stock worth $29,175,000 after buying an additional 55,236 shares in the last quarter. Glenmede Trust Co. NA grew its holdings in PG&E by 15.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider's stock valued at $415,000 after buying an additional 2,878 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PG&E by 13.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,572,325 shares of the utilities provider's stock valued at $307,865,000 after acquiring an additional 1,867,690 shares during the last quarter. Vinva Investment Management Ltd raised its stake in PG&E by 143.5% during the third quarter. Vinva Investment Management Ltd now owns 45,625 shares of the utilities provider's stock worth $904,000 after purchasing an additional 26,887 shares during the period. Finally, Rockefeller Capital Management L.P. raised its position in shares of PG&E by 3.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider's stock valued at $544,000 after buying an additional 928 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

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PG&E Stock Up 0.7 %

NYSE:PCG traded up $0.13 during trading hours on Wednesday, hitting $17.40. The company's stock had a trading volume of 10,710,643 shares, compared to its average volume of 23,219,412. The stock has a fifty day moving average of $16.21 and a 200-day moving average of $18.64. The stock has a market capitalization of $46.47 billion, a P/E ratio of 15.13, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

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 for the quarter, meeting analysts' consensus estimates of $0.31. The company had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, equities analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's payout ratio is currently 8.70%.

Insider Buying and Selling at PG&E

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

Wall Street Analyst Weigh In

Several equities analysts have recently commented on PCG shares. BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Barclays decreased their price objective on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Morgan Stanley lifted their price objective on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Finally, UBS Group lowered shares of PG&E from a "buy" rating to a "neutral" rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $22.05.

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.