GF Fund Management CO. LTD. Acquires Shares of 338,103 PG&E Co. (NYSE:PCG)

GF Fund Management CO. LTD. acquired a new stake in PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 338,103 shares of the utilities provider's stock, valued at approximately $6,823,000.

Several other hedge funds have also recently modified their holdings of PCG. True Wealth Design LLC lifted its holdings in PG&E by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after acquiring an additional 1,690 shares during the period. Colonial Trust Co SC increased its holdings in PG&E by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after buying an additional 1,627 shares during the last quarter. UMB Bank n.a. boosted its stake in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock valued at $80,000 after acquiring an additional 1,506 shares during the last quarter. Optiver Holding B.V. grew its position in shares of PG&E by 23.9% during the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after acquiring an additional 825 shares during the period. Finally, First Horizon Advisors Inc. raised its holdings in shares of PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after purchasing an additional 4,819 shares during the period. Institutional investors own 78.56% of the company's stock.

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction 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 owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.14% of the stock is owned by insiders.

PG&E Price Performance

Shares of NYSE PCG traded down $0.22 during mid-day trading on Friday, reaching $16.86. 5,191,604 shares of the company were exchanged, compared to its average volume of 16,433,437. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company's 50 day moving average price is $17.06 and its 200 day moving average price is $17.75. The stock has a market capitalization of $45.09 billion, a PE ratio of 14.66, a PEG ratio of 1.09 and a beta of 0.63. 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 released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. During the same quarter in the previous year, the business earned $0.37 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. PG&E's payout ratio is 9.17%.

Analyst Ratings Changes

Several analysts have issued reports on PCG shares. Mizuho boosted their target price on PG&E from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Barclays reduced their price objective on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Wells Fargo & Company reissued an "overweight" rating and set a $24.00 price objective on shares of PG&E in a report on Friday, April 25th. BMO Capital Markets cut 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 report on Monday, April 14th. Finally, Evercore ISI raised their price target on shares of PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $20.75.

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.