Gateway Investment Advisers LLC Buys Shares of 325,110 PG&E Co. (NYSE:PCG)

Gateway Investment Advisers LLC bought a new position in shares of PG&E Co. (NYSE:PCG - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 325,110 shares of the utilities provider's stock, valued at approximately $5,585,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Retirement Systems of Alabama increased its position in PG&E by 2.1% during the 4th quarter. Retirement Systems of Alabama now owns 473,332 shares of the utilities provider's stock worth $9,552,000 after buying an additional 9,716 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its position in PG&E by 29.2% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 187,548 shares of the utilities provider's stock worth $3,777,000 after acquiring an additional 42,426 shares during the period. Choreo LLC raised its stake in PG&E by 13.2% in the 4th quarter. Choreo LLC now owns 23,401 shares of the utilities provider's stock worth $471,000 after purchasing an additional 2,732 shares in the last quarter. Bleakley Financial Group LLC raised its stake in PG&E by 8.9% in the 4th quarter. Bleakley Financial Group LLC now owns 45,511 shares of the utilities provider's stock worth $918,000 after purchasing an additional 3,705 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in PG&E by 40.7% in the 4th quarter. State of Alaska Department of Revenue now owns 349,370 shares of the utilities provider's stock valued at $7,050,000 after purchasing an additional 101,075 shares during the period. Institutional investors own 78.56% of the company's stock.

Insider Activity at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were 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 directly owns 151,116 shares in the company, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.14% of the stock is currently owned by company insiders.

PG&E Stock Down 6.8%

PCG traded down $1.07 during midday trading on Monday, hitting $14.58. The company had a trading volume of 60,947,957 shares, compared to its average volume of 17,101,482. The stock's 50 day moving average price is $16.90 and its 200 day moving average price is $17.45. The company has a market capitalization of $38.99 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.09 and a beta of 0.60. 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 Co. has a 52 week low of $14.57 and a 52 week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly 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 business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business's revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. On average, research analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, June 30th. PG&E's dividend payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCG. Mizuho lifted their price target on shares of PG&E from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley set a $18.00 target price on PG&E and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $24.00 price target on shares of PG&E in a research note on Friday, April 25th. Finally, UBS Group downgraded shares of PG&E from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note 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 stock presently has a consensus rating of "Moderate Buy" and an average price target of $20.75.

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.