PG&E Co. (NYSE:PCG) Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its stake in shares of PG&E Co. (NYSE:PCG) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 84,806 shares of the utilities provider’s stock after buying an additional 14,305 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in PG&E were worth $1,711,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in PCG. Barclays PLC grew its position in shares of PG&E by 8.0% during the third quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider’s stock worth $112,541,000 after buying an additional 420,133 shares in the last quarter. Wedmont Private Capital grew its position in shares of PG&E by 7.0% during the fourth quarter. Wedmont Private Capital now owns 24,459 shares of the utilities provider’s stock worth $494,000 after buying an additional 1,591 shares in the last quarter. Pallas Capital Advisors LLC grew its position in shares of PG&E by 35.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 18,080 shares of the utilities provider’s stock worth $365,000 after buying an additional 4,720 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of PG&E during the fourth quarter worth about $950,000. Finally, Assenagon Asset Management S.A. grew its position in shares of PG&E by 4.5% during the fourth quarter. Assenagon Asset Management S.A. now owns 32,876 shares of the utilities provider’s stock worth $663,000 after buying an additional 1,423 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PG&E

In other news, EVP Carla J. Peterman sold 32,519 shares of the firm’s stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president now owns 151,116 shares in the company, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39% increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.14% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of a number of analyst reports. Guggenheim boosted their price objective on PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $24.00 price target on shares of PG&E in a report on Friday, April 25th. Jefferies Financial Group upped their price target on PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a report on Wednesday, April 23rd. Finally, UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.13.

PG&E Stock Up 2.1%

Shares of NYSE:PCG opened at $17.38 on Friday. The stock has a market cap of $46.50 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.09 and a beta of 0.63. The firm has a fifty day moving average price of $16.97 and a 200 day moving average price of $17.96. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.37 EPS. Sell-side analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 9.17%.

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.