PG&E Co. (NYSE:PCG) Stake Boosted by BROOKFIELD Corp ON

BROOKFIELD Corp ON increased its holdings in PG&E Co. (NYSE:PCG) by 16.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 14,692,444 shares of the utilities provider’s stock after acquiring an additional 2,049,359 shares during the quarter. PG&E makes up about 1.8% of BROOKFIELD Corp ON’s investment portfolio, making the stock its 8th largest position. BROOKFIELD Corp ON owned approximately 0.56% of PG&E worth $296,494,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCG. Captrust Financial Advisors increased its holdings in shares of PG&E by 28.7% in the 4th quarter. Captrust Financial Advisors now owns 82,768 shares of the utilities provider’s stock valued at $1,670,000 after acquiring an additional 18,470 shares during the period. Castlekeep Investment Advisors LLC purchased a new position in PG&E in the fourth quarter valued at about $253,000. Beck Bode LLC bought a new position in PG&E in the fourth quarter worth about $14,956,000. Algert Global LLC lifted its position in shares of PG&E by 11.5% during the fourth quarter. Algert Global LLC now owns 102,397 shares of the utilities provider’s stock valued at $2,066,000 after buying an additional 10,529 shares during the last quarter. Finally, Alyeska Investment Group L.P. bought a new stake in shares of PG&E in the 4th quarter valued at about $4,036,000. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

PCG has been the subject of a number of analyst reports. Wells Fargo & Company reissued an “overweight” rating and set a $24.00 target price on shares of PG&E in a research report on Friday, April 25th. Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Barclays cut their price target on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Finally, UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $21.13.

PG&E Price Performance

NYSE:PCG opened at $16.94 on Tuesday. The firm’s fifty day moving average is $16.81 and its two-hundred day moving average is $18.11. The firm has a market cap of $45.31 billion, a price-to-earnings ratio of 14.73, a PEG ratio of 1.09 and a beta of 0.63. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. PG&E Co. has a one year low of $14.99 and a one year high of $21.72.

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

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 9.17%.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.14% of the company’s stock.

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.