Axa S.A. Buys 23,353 Shares of PG&E Co. (NYSE:PCG)

Axa S.A. increased its position in PG&E Co. (NYSE:PCG) by 26.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 110,031 shares of the utilities provider’s stock after acquiring an additional 23,353 shares during the quarter. Axa S.A.’s holdings in PG&E were worth $2,220,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Baker Tilly Wealth Management LLC grew its position in shares of PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 715 shares in the last quarter. Level Four Advisory Services LLC grew its position in PG&E by 7.5% during the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider’s stock worth $223,000 after buying an additional 772 shares in the last quarter. Optiver Holding B.V. increased its stake in PG&E by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 825 shares during the last quarter. Clarius Group LLC raised its holdings in shares of PG&E by 8.2% in the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider’s stock valued at $223,000 after acquiring an additional 833 shares in the last quarter. Finally, Greenleaf Trust boosted its position in shares of PG&E by 5.9% during the 4th quarter. Greenleaf Trust now owns 15,542 shares of the utilities provider’s stock valued at $314,000 after acquiring an additional 872 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on PCG. Barclays lowered their target price 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. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 target price on shares of PG&E in a research report on Friday, April 25th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Evercore ISI raised their price objective on PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $21.13.

PG&E Price Performance

PCG stock opened at $17.18 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm’s 50-day moving average price is $16.86 and its two-hundred day moving average price is $18.07. The stock has a market capitalization of $45.97 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.09 and a beta of 0.63. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72.

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). The business 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 company’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 EPS. As a group, equities analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

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

Insider Buying and Selling

In other news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,614,306.80. This represents a 17.71 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased 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 directly 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 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.