Prudential Financial Inc. Purchases 355,977 Shares of PG&E Co. (NYSE:PCG)

Prudential Financial Inc. boosted its position in PG&E Co. (NYSE:PCG - Free Report) by 22.2% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 1,958,355 shares of the utilities provider's stock after purchasing an additional 355,977 shares during the period. Prudential Financial Inc. owned about 0.07% of PG&E worth $39,520,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCG. Versant Capital Management Inc increased its position in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 626 shares during the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock valued at $330,000 after purchasing an additional 715 shares during the last quarter. Continuum Advisory LLC raised its stake in shares of PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock worth $157,000 after purchasing an additional 769 shares during the period. iA Global Asset Management Inc. boosted its holdings in shares of PG&E by 2.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock worth $624,000 after buying an additional 812 shares during the last quarter. Finally, Clarius Group LLC grew its position in PG&E by 8.2% during the fourth quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider's stock valued at $223,000 after buying an additional 833 shares during the period. Hedge funds and other institutional investors own 78.56% of the company's stock.

Remove Ads

PG&E Price Performance

PG&E stock traded down $0.18 during midday trading on Friday, hitting $16.98. 15,065,056 shares of the company's stock were exchanged, compared to its average volume of 15,885,936. The company has a market cap of $45.35 billion, a P/E ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The stock has a 50-day moving average price of $16.21 and a two-hundred day moving average price of $18.68. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings data 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 in the previous year, the firm earned $0.47 earnings per share. On average, equities research analysts forecast 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. Stockholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's dividend payout ratio is currently 8.70%.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris bought 6,389 shares of the business's stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now directly 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 SEC, which is available through this hyperlink. Also, 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 owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

PCG has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Guggenheim lowered PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and lowered their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets increased their price target on PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley upped their price objective on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a report on Thursday, March 20th. One equities 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, PG&E presently has an average rating of "Moderate Buy" and a consensus price target of $22.05.

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.