UniSuper Management Pty Ltd Buys 41,219 Shares of PG&E Co. (NYSE:PCG)

UniSuper Management Pty Ltd raised its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,053,658 shares of the utilities provider's stock after acquiring an additional 41,219 shares during the period. UniSuper Management Pty Ltd owned approximately 0.08% of PG&E worth $41,443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in PG&E by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock valued at $5,132,964,000 after purchasing an additional 6,151,233 shares during the last quarter. State Street Corp increased its holdings in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Geode Capital Management LLC raised its position in shares of PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider's stock valued at $981,960,000 after buying an additional 536,914 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider's stock valued at $598,142,000 after buying an additional 1,822,835 shares during the period. Finally, Franklin Resources Inc. grew its position in PG&E by 4.1% during the third quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider's stock worth $346,443,000 after buying an additional 681,369 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

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PG&E Price Performance

PCG stock traded up $0.08 during midday trading on Monday, reaching $17.06. 3,816,468 shares of the company's stock traded hands, compared to its average volume of 15,838,944. The company has a 50-day simple moving average of $16.21 and a two-hundred day simple moving average of $18.67. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a market cap of $45.57 billion, a price-to-earnings ratio of 14.81, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same period in the previous year, the business posted $0.47 earnings per share. On average, analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.59%. The ex-dividend date is Monday, March 31st. PG&E's dividend payout ratio is 8.70%.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 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 disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

Several research firms have commented on PCG. Morgan Stanley upped their price target on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a report on Thursday, March 20th. Guggenheim lowered PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. BMO Capital Markets boosted their price target on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Finally, Barclays decreased 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 report on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $22.05.

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.