Mackenzie Financial Corp Increases Stake in PG&E Co. (NYSE:PCG)

Mackenzie Financial Corp lifted its stake in PG&E Co. (NYSE:PCG - Free Report) by 22.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,703,979 shares of the utilities provider's stock after buying an additional 314,119 shares during the period. Mackenzie Financial Corp owned approximately 0.06% of PG&E worth $34,386,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCG. Vanguard Group Inc. lifted its stake in PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after acquiring an additional 6,151,233 shares during the period. Geode Capital Management LLC lifted its stake in PG&E by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock worth $1,046,462,000 after acquiring an additional 2,151,494 shares during the period. Capital Research Global Investors lifted 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 worth $944,540,000 after acquiring an additional 19,317,171 shares during the period. Norges Bank purchased a new stake in PG&E in the fourth quarter worth $591,625,000. Finally, Northern Trust Corp lifted its stake in PG&E by 6.8% in the fourth quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock worth $385,962,000 after acquiring an additional 1,214,394 shares during the period. Institutional investors own 78.56% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently commented on PCG. 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. JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. BMO Capital Markets lowered their price target 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, Mizuho lifted their price objective on PG&E from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat, PG&E presently has a consensus rating of "Moderate Buy" and an average target price of $20.75.

PG&E Price Performance

Shares of NYSE PCG traded down $0.14 during midday trading on Wednesday, reaching $16.91. The stock had a trading volume of 11,120,517 shares, compared to its average volume of 16,482,200. The stock has a 50-day moving average of $17.06 and a 200-day moving average of $17.77. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The company has a market capitalization of $45.24 billion, a price-to-earnings ratio of 14.70, 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.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $6.23 billion. During the same period last year, the company earned $0.37 earnings per share. The business's revenue for the quarter was up 2.1% on a year-over-year basis. As a group, research analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

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

Insider Activity at PG&E

In other news, EVP Carla J. Peterman sold 32,519 shares of the business's 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 completion of the sale, the executive vice president now directly owns 151,116 shares of the company's stock, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.14% of the stock is currently owned by insiders.

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.