MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Raises Position in PG&E Co. (NYSE:PCG)

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PG&E Co. (NYSE:PCG) by 4.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 243,812 shares of the utilities provider’s stock after acquiring an additional 10,363 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in PG&E were worth $4,920,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently modified their holdings of PCG. Barclays PLC raised its holdings in PG&E by 8.0% during the third quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider’s stock valued at $112,541,000 after acquiring an additional 420,133 shares during the period. Assenagon Asset Management S.A. raised its stake in PG&E by 4.5% during the 4th quarter. Assenagon Asset Management S.A. now owns 32,876 shares of the utilities provider’s stock valued at $663,000 after purchasing an additional 1,423 shares during the period. Park Avenue Securities LLC lifted its holdings in PG&E by 136.7% in the 4th quarter. Park Avenue Securities LLC now owns 30,535 shares of the utilities provider’s stock worth $616,000 after purchasing an additional 17,636 shares in the last quarter. Wedge Capital Management L L P NC bought a new position in PG&E in the 4th quarter worth approximately $12,196,000. Finally, Merit Financial Group LLC purchased a new stake in PG&E during the 4th quarter valued at approximately $336,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on PCG shares. Evercore ISI lifted their price target on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a report on Monday, April 28th. Jefferies Financial Group lifted their target price on PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, April 23rd. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Barclays cut their price target on PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. Finally, Guggenheim lifted their price objective on PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $21.13.

PG&E Trading Up 3.0%

Shares of NYSE PCG opened at $17.85 on Monday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The firm has a market cap of $47.76 billion, a PE ratio of 15.52, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The business has a fifty day simple moving average of $17.00 and a two-hundred day simple moving average of $17.91. 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 (NYSE:PCG) last released its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. Analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.56%. The ex-dividend date was Monday, March 31st. PG&E’s payout ratio is 9.17%.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the transaction, the executive vice president now owns 151,116 shares in the company, valued at $2,614,306.80. The trade was a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction on 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 completion of the purchase, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by insiders.

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.