NEOS Investment Management LLC Has $2.62 Million Stake in PG&E Co. (NYSE:PCG)

NEOS Investment Management LLC increased its holdings in PG&E Co. (NYSE:PCG - Free Report) by 31.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 129,599 shares of the utilities provider's stock after purchasing an additional 31,111 shares during the quarter. NEOS Investment Management LLC's holdings in PG&E were worth $2,615,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock valued at $5,132,964,000 after purchasing an additional 6,151,233 shares during the last quarter. State Street Corp increased its holdings in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock worth $2,155,093,000 after buying an additional 5,191,463 shares during the last quarter. Geode Capital Management LLC raised its position in shares of PG&E by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider's stock valued at $981,960,000 after buying an additional 536,914 shares during the period. Wellington Management Group LLP grew its position in PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider's stock worth $598,142,000 after acquiring an additional 1,822,835 shares during the period. Finally, Franklin Resources Inc. raised its position in PG&E by 4.1% in the third quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider's stock valued at $346,443,000 after purchasing an additional 681,369 shares during the period. Hedge funds and other institutional investors own 78.56% of the company's stock.

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PG&E Stock Up 0.8 %

Shares of PG&E stock traded up $0.14 during trading on Wednesday, reaching $17.41. The company had a trading volume of 11,407,694 shares, compared to its average volume of 15,861,789. The company has a market cap of $46.49 billion, a price-to-earnings ratio of 15.15, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm's fifty day moving average is $16.21 and its 200-day moving average is $18.64. 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 issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 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 company had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter last year, the firm earned $0.47 EPS. On average, analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently announced 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 0.57%. PG&E's dividend payout ratio (DPR) is 8.70%.

Insider Transactions at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of the company's stock in a transaction on Thursday, February 20th. The shares were purchased 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction 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 sale, the executive vice president now directly owns 183,635 shares of the company's stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent analyst reports. BMO Capital Markets upped their target price on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Morgan Stanley boosted 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. Barclays lowered their target price on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. 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 stock presently has an average rating of "Moderate Buy" and an average target price of $22.05.

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.