Mitsubishi UFJ Asset Management Co. Ltd. Boosts Stock Position in PG&E Co. (NYSE:PCG)

Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in PG&E Co. (NYSE:PCG - Free Report) by 9.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,343,772 shares of the utilities provider's stock after acquiring an additional 292,919 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.13% of PG&E worth $68,213,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings 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 purchasing an additional 626 shares during the last quarter. Baker Tilly Wealth Management LLC increased its position in PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock worth $330,000 after buying an additional 715 shares during the period. Continuum Advisory LLC lifted its holdings in shares of PG&E by 11.4% during the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock worth $157,000 after buying an additional 769 shares in the last quarter. iA Global Asset Management Inc. boosted its position in shares of PG&E by 2.6% in the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock valued at $624,000 after acquiring an additional 812 shares during the period. Finally, Clarius Group LLC grew its stake in shares of PG&E by 8.2% in the fourth quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider's stock valued at $223,000 after acquiring an additional 833 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

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PG&E Stock Up 0.7 %

Shares of PG&E stock traded up $0.13 during trading on Wednesday, reaching $17.40. 10,710,643 shares of the company traded hands, compared to its average volume of 23,219,412. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a market capitalization of $46.47 billion, a PE ratio of 15.13, a P/E/G ratio of 1.09 and a beta of 1.04. The company has a 50 day moving average price of $16.21 and a 200-day moving average price of $18.64. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72.

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 (EPS) for the quarter, hitting analysts' consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion for the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities research analysts expect that PG&E Co. will post 1.49 earnings per share 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. Shareholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.57%. PG&E's dividend payout ratio (DPR) is presently 8.70%.

Analysts Set New Price Targets

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

Insider Activity at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company's stock, valued at approximately $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm's stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

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.