MetLife Investment Management LLC Increases Stock Holdings in PG&E Co. (NYSE:PCG)

MetLife Investment Management LLC boosted its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 4.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 577,791 shares of the utilities provider's stock after purchasing an additional 21,994 shares during the quarter. MetLife Investment Management LLC's holdings in PG&E were worth $11,660,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its stake in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after acquiring an additional 626 shares during the last quarter. UMB Bank n.a. boosted its position 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 worth $80,000 after purchasing an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. grew its holdings in shares of PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after buying an additional 4,819 shares during the period. Sierra Ocean LLC bought a new stake in shares of PG&E in the 4th quarter valued at $111,000. Finally, Huntington National Bank raised its stake in PG&E by 24.9% during the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock worth $122,000 after buying an additional 1,205 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the 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 transaction, the executive vice president now owns 183,635 shares of the company's stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

PG&E Trading Up 0.8 %

Shares of NYSE:PCG traded up $0.14 during midday trading on Wednesday, reaching $17.58. The company's stock had a trading volume of 16,080,946 shares, compared to its average volume of 16,428,093. The firm has a market capitalization of $46.96 billion, a price-to-earnings ratio of 15.29, a PEG ratio of 1.09 and a beta of 0.70. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm has a 50 day moving average price of $16.60 and a two-hundred day moving average price of $18.30. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG - Get Free Report) last released 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. 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 during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the business earned $0.47 EPS. As a group, analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.025 per share. The ex-dividend date was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.57%. PG&E's dividend payout ratio is presently 8.70%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on PCG shares. BMO Capital Markets lowered their target price on PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Guggenheim lowered shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. UBS Group downgraded PG&E from a "buy" rating to a "neutral" rating and dropped their price target for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, Morgan Stanley upped their price objective on PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.75.

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.