Rhumbline Advisers Grows Position in PG&E Co. (NYSE:PCG)

Rhumbline Advisers increased its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,248,558 shares of the utilities provider's stock after buying an additional 228,099 shares during the quarter. Rhumbline Advisers owned 0.16% of PG&E worth $85,736,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. FMR LLC boosted its stake in shares of PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider's stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. State Street Corp lifted its stake in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Brookfield Corp ON boosted its holdings in shares of PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider's stock worth $249,954,000 after buying an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider's stock valued at $2,072,824,000 after acquiring an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in PG&E by 91.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider's stock worth $79,622,000 after acquiring an additional 1,920,734 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the firm's stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Mizuho boosted their target price on PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a research report on Wednesday, November 27th. Barclays lowered their target price on PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. BMO Capital Markets upped their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, PG&E has an average rating of "Moderate Buy" and an average target price of $22.23.

PG&E Stock Performance

Shares of PCG traded up $0.26 on Wednesday, reaching $15.68. 24,918,663 shares of the company's stock traded hands, compared to its average volume of 28,589,930. The stock's 50 day simple moving average is $17.83 and its two-hundred day simple moving average is $19.18. The stock has a market cap of $41.89 billion, a PE ratio of 13.64, a PEG ratio of 1.07 and a beta of 0.99. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. 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 (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period last year, the firm posted $0.47 EPS. On average, analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

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.