Resona Asset Management Co. Ltd. Makes New Investment in PG&E Co. (NYSE:PCG)

Resona Asset Management Co. Ltd. acquired a new position in PG&E Co. (NYSE:PCG - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 710,422 shares of the utilities provider's stock, valued at approximately $14,333,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Rockefeller Capital Management L.P. grew its position in shares of PG&E by 3.5% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider's stock valued at $544,000 after buying an additional 928 shares during the last quarter. Janus Henderson Group PLC raised its position in shares of PG&E by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider's stock worth $6,646,000 after purchasing an additional 35,700 shares during the period. Integrated Wealth Concepts LLC lifted its holdings in shares of PG&E by 55.1% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 31,990 shares of the utilities provider's stock worth $632,000 after purchasing an additional 11,366 shares during the last quarter. IHT Wealth Management LLC bought a new position in PG&E during the 3rd quarter worth $262,000. Finally, Quantinno Capital Management LP increased its position in PG&E by 31.8% in the third quarter. Quantinno Capital Management LP now owns 81,594 shares of the utilities provider's stock worth $1,613,000 after buying an additional 19,709 shares during the period. Institutional investors own 78.56% of the company's stock.

PG&E Trading Up 1.5 %

Shares of PCG traded up $0.25 during midday trading on Friday, hitting $16.72. The stock had a trading volume of 2,734,692 shares, compared to its average volume of 16,251,641. The business has a 50-day simple moving average of $16.32 and a two-hundred day simple moving average of $18.45. The firm has a market cap of $44.65 billion, a P/E ratio of 14.54, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72.

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PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data 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 period in the previous year, the company posted $0.47 EPS. As a group, equities analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued 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 0.60%. PG&E's dividend payout ratio is 8.70%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on PCG shares. Guggenheim downgraded shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. BMO Capital Markets raised 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. 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. UBS Group cut 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 report on Wednesday, March 19th. Finally, Barclays lowered their price target on PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.05.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $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 accessible through the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction on Thursday, February 20th. The stock was purchased at an average price 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 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 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.