Vanguard Group Inc. Boosts Holdings in PG&E Co. (NYSE:PCG)

Vanguard Group Inc. raised its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 254,358,968 shares of the utilities provider's stock after acquiring an additional 6,151,233 shares during the period. Vanguard Group Inc. owned approximately 9.73% of PG&E worth $5,132,964,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. LPL Financial LLC increased its holdings in shares of PG&E by 4.3% in the fourth quarter. LPL Financial LLC now owns 2,073,103 shares of the utilities provider's stock valued at $41,835,000 after purchasing an additional 85,081 shares during the period. KLP Kapitalforvaltning AS acquired a new position in PG&E in the 4th quarter valued at $33,669,000. Mizuho Securities USA LLC increased its stake in PG&E by 49.5% in the 4th quarter. Mizuho Securities USA LLC now owns 207,203 shares of the utilities provider's stock valued at $4,181,000 after buying an additional 68,600 shares during the period. Northwest & Ethical Investments L.P. purchased a new position in PG&E during the 4th quarter worth $139,000. Finally, iA Global Asset Management Inc. lifted its stake in shares of PG&E by 326.0% in the 4th quarter. iA Global Asset Management Inc. now owns 134,370 shares of the utilities provider's stock worth $2,712,000 after acquiring an additional 102,825 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,521 shares of the company's 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 completion of the sale, the executive vice president now directly owns 183,635 shares of the company's stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction on Thursday, February 20th. The stock was bought at an average cost 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 disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

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PG&E Trading Down 1.0 %

Shares of PCG stock traded down $0.18 during trading hours on Friday, hitting $16.98. 15,065,056 shares of the company were exchanged, compared to its average volume of 15,885,936. The firm has a fifty day moving average of $16.21 and a 200 day moving average of $18.68. 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 firm has a market cap of $45.35 billion, a PE ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts' consensus estimates of $0.31. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter last year, the firm posted $0.47 earnings per share. Analysts expect that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 0.59%. PG&E's dividend payout ratio is presently 8.70%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCG. Morgan Stanley boosted their price target on shares of PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. BMO Capital Markets upped their price objective on PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. 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 issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target 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.