Corient Private Wealth LLC Purchases 32,043 Shares of PG&E Co. (NYSE:PCG)

Corient Private Wealth LLC grew its holdings in PG&E Co. (NYSE:PCG - Free Report) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,541 shares of the utilities provider's stock after acquiring an additional 32,043 shares during the quarter. Corient Private Wealth LLC's holdings in PG&E were worth $3,683,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. FMR LLC increased its stake in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider's stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp raised its position in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Brookfield Corp ON grew its holdings in shares of PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider's stock valued at $249,954,000 after purchasing an additional 3,958,495 shares during the last quarter. Duff & Phelps Investment Management Co. increased its holdings in shares of PG&E by 91.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider's stock worth $79,622,000 after buying an additional 1,920,734 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in 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 worth $307,865,000 after acquiring an additional 1,867,690 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

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PG&E Price Performance

PCG stock traded up $0.18 during mid-day trading on Wednesday, reaching $17.24. 12,443,033 shares of the company traded hands, compared to its average volume of 15,121,051. The company has a fifty day moving average price of $16.20 and a 200-day moving average price of $18.73. The company has a market capitalization of $46.04 billion, a P/E ratio of 14.99, a P/E/G 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 debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the prior year, the firm posted $0.47 earnings per share. As a group, analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PCG. JPMorgan Chase & Co. restated an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Mizuho lifted their target price on PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a report on Wednesday, November 27th. BMO Capital Markets increased 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. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and reduced their target price for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Morgan Stanley raised their price target on shares of PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.05.

Insider Activity at PG&E

In other PG&E news, 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 transaction of $532,368.77. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the business's stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently 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.