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

TCW Group Inc. grew its position in shares of PG&E Co. (NYSE:PCG) by 5.2% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,737 shares of the utilities provider’s stock after purchasing an additional 1,525 shares during the period. TCW Group Inc.’s holdings in PG&E were worth $620,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCG. FMR LLC increased its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares during the last quarter. State Street Corp increased its stake in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after buying an additional 5,191,463 shares during the last quarter. Brookfield Corp ON increased its stake in shares of PG&E by 45.6% in the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after buying an additional 3,958,495 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of PG&E by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. increased its stake in shares of PG&E by 91.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after buying an additional 1,920,734 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of PCG opened at $16.05 on Tuesday. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a market cap of $42.86 billion, a price-to-earnings ratio of 13.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a fifty day moving average of $17.42 and a 200-day moving average of $19.10.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. As a group, equities analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The business also recently disclosed 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. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the company’s 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 owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $20.00 to $16.50 in a report on Friday, February 14th. Mizuho lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E 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.