Investment Management Corp of Ontario Has $1.72 Million Stock Position in PG&E Co. (NYSE:PCG)

Investment Management Corp of Ontario raised its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 26.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 85,145 shares of the utilities provider's stock after purchasing an additional 17,689 shares during the period. Investment Management Corp of Ontario's holdings in PG&E were worth $1,718,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of PCG. Colonial Trust Co SC grew its position in shares of PG&E by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after buying an additional 1,627 shares during the last quarter. UMB Bank n.a. lifted its holdings 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 worth $80,000 after acquiring an additional 1,506 shares during the last quarter. Optiver Holding B.V. boosted its stake in PG&E by 23.9% in the fourth 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. First Horizon Advisors Inc. grew its holdings in shares of PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after purchasing an additional 4,819 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of PG&E during the 4th quarter worth approximately $111,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris bought 6,389 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares of the company's stock, valued at $232,770.24. The trade was a 75.39% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction 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 sale, the executive vice president now directly owns 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their position. The disclosure for this sale can be found here. Insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on PCG. Wells Fargo & Company restated an "overweight" rating and set a $24.00 price objective on shares of PG&E in a research report on Friday, April 25th. Morgan Stanley reiterated an "underweight" rating on shares of PG&E in a research note on Wednesday, April 23rd. Evercore ISI raised their target price on PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Jefferies Financial Group raised their target price on PG&E from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Finally, Guggenheim raised their target price on PG&E from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $21.13.

PG&E Stock Performance

PCG traded up $0.35 during trading hours on Thursday, hitting $17.38. The company's stock had a trading volume of 9,168,553 shares, compared to its average volume of 16,458,402. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. 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 has a market capitalization of $46.50 billion, a PE ratio of 15.11, a PEG ratio of 1.09 and a beta of 0.63. The company has a 50-day simple moving average of $16.92 and a 200 day simple moving average of $17.98.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analyst estimates of $6.23 billion. During the same quarter last year, the business posted $0.37 earnings per share. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

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

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.