State of Wyoming Purchases 16,082 Shares of PG&E Co. (NYSE:PCG)

State of Wyoming lifted its position in PG&E Co. (NYSE:PCG) by 241.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,740 shares of the utilities provider’s stock after purchasing an additional 16,082 shares during the quarter. State of Wyoming’s holdings in PG&E were worth $459,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCG. Norges Bank purchased a new position in PG&E in the fourth quarter worth about $591,625,000. Capital Research Global Investors grew its position in PG&E by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock worth $944,540,000 after acquiring an additional 19,317,171 shares in the last quarter. Vanguard Group Inc. grew its position in PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after acquiring an additional 6,151,233 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its position in PG&E by 244.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock worth $95,066,000 after acquiring an additional 3,340,599 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in PG&E by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock worth $1,046,462,000 after acquiring an additional 2,151,494 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCG. Guggenheim lifted their price target on PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, April 25th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Mizuho lifted their price target on PG&E from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday. Wells Fargo & Company restated an “overweight” rating and set a $24.00 target price on shares of PG&E in a research report on Friday, April 25th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One 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 company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.71.

PG&E Stock Performance

PG&E stock opened at $17.73 on Tuesday. The company has a 50 day moving average price of $17.03 and a 200-day moving average price of $17.89. 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 fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company has a market capitalization of $47.44 billion, a PE ratio of 15.42, a P/E/G ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last posted its quarterly earnings results 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 company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the firm posted $0.37 EPS. The business’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that PG&E Co. will post 1.49 earnings per share for the current 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 paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 9.17%.

Insider Buying and Selling

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The stock was bought 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 directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 directly owns 151,116 shares of the company’s stock, valued at $2,614,306.80. This trade represents a 17.71% decrease in their position. The disclosure for this sale 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.