Van ECK Associates Corp Acquires 1,722,613 Shares of PG&E Co. (NYSE:PCG)

Van ECK Associates Corp raised its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 94.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,545,569 shares of the utilities provider's stock after buying an additional 1,722,613 shares during the quarter. Van ECK Associates Corp owned about 0.14% of PG&E worth $71,549,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. FMR LLC lifted its holdings in shares of PG&E by 5.1% during the 3rd 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 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 valued at $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Brookfield Corp ON lifted 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 valued at $249,954,000 after purchasing an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PG&E by 2.9% during 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 purchasing an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in shares of PG&E by 91.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider's stock valued at $79,622,000 after purchasing an additional 1,920,734 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Down 3.5 %

Shares of PG&E stock traded down $0.56 on Monday, reaching $15.30. 28,221,341 shares of the company were exchanged, compared to its average volume of 32,168,314. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a market capitalization of $40.00 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.09 and a beta of 0.99. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company has a 50-day moving average of $17.83 and a 200 day moving average of $19.18.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.31. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company had revenue of $6.63 billion for the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter in the prior year, the business posted $0.47 EPS. On average, equities research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current year.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares of the company's stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Mizuho lifted their price objective on PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. UBS Group cut their price objective on PG&E from $24.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, January 30th. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. BMO Capital Markets started coverage on PG&E in a research note on Monday, January 13th. They issued an "outperform" rating and a $21.00 target price on the stock. Finally, JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $22.05.

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.