400,000 Shares in PG&E Co. (NYSE:PCG) Bought by Tudor Investment Corp ET AL

Tudor Investment Corp ET AL acquired a new stake in shares of PG&E Co. (NYSE:PCG) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 400,000 shares of the utilities provider’s stock, valued at approximately $8,072,000.

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

Wall Street Analyst Weigh In

PCG has been the subject of several analyst reports. Morgan Stanley reissued an “underweight” rating on shares of PG&E in a report on Wednesday, April 23rd. Wells Fargo & Company restated an “overweight” rating and issued a $24.00 target price on shares of PG&E in a research report on Friday. Guggenheim lifted their price target on PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 25th. BMO Capital Markets reduced their price objective on PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Finally, Jefferies Financial Group raised their target price on PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $21.13.

PG&E Price Performance

NYSE:PCG opened at $17.35 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The business’s 50-day moving average price is $16.75 and its 200 day moving average price is $18.22. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The firm has a market cap of $46.35 billion, a P/E ratio of 15.09, a PEG ratio of 1.09 and a beta of 0.70.

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

PG&E Announces Dividend

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

Insider Transactions at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the transaction, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 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 purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

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.