PG&E Co. (NYSE:PCG) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lowered its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,239,155 shares of the utilities provider's stock after selling 179,875 shares during the quarter. Canada Pension Plan Investment Board owned approximately 0.16% of PG&E worth $85,546,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. NewEdge Advisors LLC increased its holdings in shares of PG&E by 8.4% in the fourth quarter. NewEdge Advisors LLC now owns 201,369 shares of the utilities provider's stock worth $4,064,000 after purchasing an additional 15,535 shares during the last quarter. Ceredex Value Advisors LLC raised its holdings in shares of PG&E by 13.2% during the 4th quarter. Ceredex Value Advisors LLC now owns 1,995,100 shares of the utilities provider's stock worth $40,261,000 after acquiring an additional 232,100 shares in the last quarter. Jump Financial LLC grew its holdings in shares of PG&E by 12.2% in the fourth quarter. Jump Financial LLC now owns 123,100 shares of the utilities provider's stock valued at $2,484,000 after purchasing an additional 13,362 shares in the last quarter. Guggenheim Capital LLC raised its stake in PG&E by 21.8% during the fourth quarter. Guggenheim Capital LLC now owns 174,923 shares of the utilities provider's stock valued at $3,530,000 after purchasing an additional 31,286 shares in the last quarter. Finally, Canada Post Corp Registered Pension Plan purchased a new position in shares of PG&E in the 4th quarter worth $701,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now directly 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 purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the company's 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 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. Company insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on PCG. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Guggenheim lowered PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. Morgan Stanley boosted their price objective 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. Finally, Barclays lowered their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and an average target price of $21.95.

PG&E Stock Down 0.6 %

Shares of PCG traded down $0.11 during mid-day trading on Wednesday, hitting $17.33. The company's stock had a trading volume of 5,461,501 shares, compared to its average volume of 16,360,614. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company's 50-day moving average is $16.56 and its 200-day moving average is $18.30. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The firm has a market capitalization of $46.29 billion, a price-to-earnings ratio of 15.07, a PEG ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly 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 firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the company posted $0.47 EPS. On average, equities research analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E's payout ratio is presently 8.70%.

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.