Prudential PLC Buys 176,764 Shares of PG&E Co. (NYSE:PCG)

Prudential PLC boosted its position in PG&E Co. (NYSE:PCG - Free Report) by 581.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 207,154 shares of the utilities provider's stock after buying an additional 176,764 shares during the quarter. Prudential PLC's holdings in PG&E were worth $4,180,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of PCG. Rockefeller Capital Management L.P. increased its stake in shares of PG&E by 3.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider's stock worth $544,000 after purchasing an additional 928 shares during the period. Janus Henderson Group PLC grew its holdings in PG&E by 11.9% in the 3rd quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider's stock valued at $6,646,000 after buying an additional 35,700 shares during the last quarter. Integrated Wealth Concepts LLC increased its position in PG&E by 55.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 31,990 shares of the utilities provider's stock worth $632,000 after buying an additional 11,366 shares during the period. IHT Wealth Management LLC acquired a new position in shares of PG&E during the third quarter worth approximately $262,000. Finally, Royal London Asset Management Ltd. boosted its position in shares of PG&E by 2.4% in the third quarter. Royal London Asset Management Ltd. now owns 1,228,937 shares of the utilities provider's stock valued at $24,296,000 after acquiring an additional 28,381 shares during the period. Institutional investors own 78.56% of the company's stock.

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PG&E Price Performance

Shares of PCG traded up $0.46 during mid-day trading on Friday, reaching $16.93. The company had a trading volume of 13,590,720 shares, compared to its average volume of 16,325,781. The company's 50-day moving average is $16.35 and its 200-day moving average is $18.43. 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 company has a market capitalization of $45.21 billion, a P/E ratio of 14.72, a P/E/G ratio of 1.09 and a beta of 0.70. PG&E Co. has a twelve month low of $14.99 and a twelve month 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 the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the company posted $0.47 earnings per share. On average, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. PG&E's dividend payout ratio (DPR) is presently 8.70%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. Barclays dropped their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday. Guggenheim lowered shares of PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. BMO Capital Markets increased their target price on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research note on Tuesday, February 18th. Morgan Stanley boosted their price target on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $22.05.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares in the company, 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. 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.