Duff & Phelps Investment Management Co. Purchases 904,086 Shares of PG&E Co. (NYSE:PCG)

Duff & Phelps Investment Management Co. grew its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 22.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,931,520 shares of the utilities provider's stock after acquiring an additional 904,086 shares during the quarter. PG&E comprises about 1.2% of Duff & Phelps Investment Management Co.'s investment portfolio, making the stock its 29th biggest holding. Duff & Phelps Investment Management Co. owned 0.19% of PG&E worth $99,518,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Algert Global LLC lifted its holdings in shares of PG&E by 301.4% in the third quarter. Algert Global LLC now owns 91,868 shares of the utilities provider's stock worth $1,816,000 after buying an additional 68,979 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new stake in PG&E during the 3rd quarter valued at about $130,000. The Manufacturers Life Insurance Company raised its holdings in shares of PG&E by 3.9% in the third quarter. The Manufacturers Life Insurance Company now owns 1,475,700 shares of the utilities provider's stock valued at $29,175,000 after acquiring an additional 55,236 shares in the last quarter. Brooklyn Investment Group bought a new position in shares of PG&E during the third quarter valued at approximately $115,000. Finally, Glenmede Trust Co. NA lifted its stake in shares of PG&E by 15.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider's stock worth $415,000 after purchasing an additional 2,878 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. Barclays cut their price target 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. Morgan Stanley raised their price target on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research report on Thursday, March 20th. BMO Capital Markets increased their price target 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. Finally, UBS Group downgraded shares of PG&E from a "buy" rating to a "neutral" rating and lowered their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. One equities research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.05.

PG&E Price Performance

Shares of PCG traded up $0.11 during trading hours on Tuesday, hitting $17.29. 4,041,921 shares of the company were exchanged, compared to its average volume of 15,848,880. The firm has a fifty day simple moving average of $16.21 and a 200-day simple moving average of $18.65. The company has a market capitalization of $46.17 billion, a PE ratio of 15.06, a PEG ratio of 1.09 and a beta of 1.04. 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 Co. has a one year low of $14.99 and a one year high of $21.72.

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

PG&E Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carla J. Peterman sold 32,521 shares of the firm's 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 completion of the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. This 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 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.