Alyeska Investment Group L.P. Purchases New Holdings in PG&E Co. (NYSE:PCG)

Alyeska Investment Group L.P. acquired a new position in PG&E Co. (NYSE:PCG - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 200,000 shares of the utilities provider's stock, valued at approximately $4,036,000.

A number of other hedge funds have also recently made changes to their positions in PCG. Norges Bank acquired a new stake in shares of PG&E in the 4th quarter worth $591,625,000. Capital Research Global Investors increased its holdings in shares of PG&E by 70.3% during the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock valued at $944,540,000 after purchasing an additional 19,317,171 shares in the last quarter. Vanguard Group Inc. boosted its position in PG&E by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in 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 acquiring an additional 3,340,599 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of 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 worth $1,046,462,000 after purchasing an additional 2,151,494 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PCG has been the subject of several research reports. BMO Capital Markets dropped their price objective on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays reduced their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $24.00 target price on shares of PG&E in a report on Friday, April 25th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Finally, UBS Group downgraded shares of PG&E from a "buy" rating to a "neutral" rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. One research 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 data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

PG&E Price Performance

Shares of PG&E stock traded down $0.07 during trading on Friday, reaching $17.11. The company's stock had a trading volume of 17,180,187 shares, compared to its average volume of 16,513,497. The company has a market capitalization of $45.78 billion, a P/E ratio of 14.88, a price-to-earnings-growth 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. The business has a 50 day moving average price of $16.86 and a 200-day moving average price of $18.07. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 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 firm had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. During the same period last year, the firm earned $0.37 EPS. PG&E's revenue was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.025 dividend. The ex-dividend date 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 9.17%.

Insider Buying and Selling at PG&E

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the firm's stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following 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 disclosure for this sale 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.