US Bancorp DE Purchases 88,118 Shares of PG&E Co. (NYSE:PCG)

US Bancorp DE boosted its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 63.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 227,937 shares of the utilities provider's stock after purchasing an additional 88,118 shares during the period. US Bancorp DE's holdings in PG&E were worth $4,600,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Czech National Bank lifted its position in PG&E by 8.9% during the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock valued at $9,566,000 after purchasing an additional 38,590 shares during the period. New York State Teachers Retirement System lifted its position in PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock valued at $39,837,000 after purchasing an additional 148,860 shares during the period. State Street Corp increased its holdings in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after buying an additional 5,191,463 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. increased its holdings in PG&E by 259.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider's stock valued at $1,223,000 after buying an additional 44,650 shares during the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in PG&E during the fourth quarter valued at approximately $514,000. Institutional investors own 78.56% of the company's stock.

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Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now directly owns 14,864 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction 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 of the company's stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

PG&E Price Performance

PCG traded down $0.12 during trading on Friday, hitting $15.97. 22,688,068 shares of the company traded hands, compared to its average volume of 15,105,276. The company has a market cap of $42.65 billion, a PE ratio of 13.88, a P/E/G ratio of 1.09 and a beta of 1.04. The stock's 50-day simple moving average is $16.75 and its two-hundred day simple moving average is $18.96. PG&E Co. has a 1 year low of $14.99 and a 1 year 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 posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The company had revenue of $6.63 billion during 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 last year, the company posted $0.47 earnings per share. As a group, sell-side analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.63%. PG&E's payout ratio is 8.70%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. UBS Group reduced their target price on shares of PG&E from $24.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, January 30th. Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. Morgan Stanley cut shares of PG&E from an "equal weight" rating to an "underweight" rating and reduced their target price for the company from $20.00 to $16.50 in a report on Friday, February 14th. BMO Capital Markets upped their target price 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. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.23.

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.