PG&E Co. (NYSE:PCG) Shares Acquired by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA raised its stake in PG&E Co. (NYSE:PCG - Free Report) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 17,385,629 shares of the utilities provider's stock after buying an additional 82,705 shares during the period. Pictet Asset Management Holding SA owned approximately 0.66% of PG&E worth $350,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in PG&E by 68.3% during the fourth 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 shares of PG&E by 4.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock valued at $330,000 after buying an additional 715 shares in the last quarter. Continuum Advisory LLC boosted its position in shares of PG&E by 11.4% in the 3rd 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 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock worth $624,000 after buying an additional 812 shares in the last quarter. Finally, Clarius Group LLC increased its holdings in PG&E by 8.2% during the 4th 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 currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

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

PG&E Trading Up 0.6 %

PG&E stock traded up $0.11 during trading on Tuesday, reaching $17.29. The company had a trading volume of 4,125,181 shares, compared to its average volume of 23,307,973. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The stock's 50 day moving average price is $16.21 and its two-hundred day moving average price is $18.65. The firm has a market capitalization of $46.17 billion, a price-to-earnings ratio of 15.03, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 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 business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm posted $0.47 EPS. As a group, equities analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's dividend payout ratio is currently 8.70%.

Insider Activity

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the firm's stock in a transaction dated 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 $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

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.