Van ECK Associates Corp boosted its holdings in PG&E Co. (NYSE:PCG - Free Report) by 13.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,117,226 shares of the utilities provider's stock after buying an additional 132,803 shares during the period. Van ECK Associates Corp's holdings in PG&E were worth $20,143,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Planned Solutions Inc. acquired a new position in shares of PG&E in the 4th quarter valued at $37,000. CVA Family Office LLC acquired a new position in PG&E in the fourth quarter valued at about $43,000. Millburn Ridgefield Corp bought a new position in PG&E during the third quarter worth about $44,000. Catalyst Capital Advisors LLC acquired a new position in shares of PG&E during the 3rd quarter worth about $44,000. Finally, Headlands Technologies LLC bought a new stake in shares of PG&E in the 3rd quarter valued at about $47,000. 78.56% of the stock is owned by institutional investors.
Insider Activity at PG&E
In other news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company's stock, valued at $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is owned by company insiders.
PG&E Stock Up 1.7 %
Shares of NYSE:PCG traded up $0.29 during midday trading on Wednesday, hitting $17.40. The stock had a trading volume of 15,262,962 shares, compared to its average volume of 15,485,753. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The business's 50-day simple moving average is $16.61 and its 200-day simple moving average is $16.92. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.32. The company has a market cap of $37.18 billion, a P/E ratio of 15.28 and a beta of 1.32.
PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period in the previous year, the business earned $0.29 EPS. PG&E's revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts forecast that PG&E Co. will post 1.35 earnings per share for the current fiscal year.
PG&E Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E's payout ratio is presently 3.57%.
Wall Street Analysts Forecast Growth
Several equities research analysts have weighed in on PCG shares. Barclays increased their target price on shares of PG&E from $20.00 to $21.00 and gave the stock an "overweight" rating in a report on Friday, April 26th. The Goldman Sachs Group began coverage on PG&E in a research note on Wednesday, April 10th. They issued a "buy" rating and a $21.00 target price for the company. StockNews.com upgraded PG&E from a "sell" rating to a "hold" rating in a report on Thursday, February 1st. Finally, JPMorgan Chase & Co. boosted their price objective on PG&E from $18.00 to $19.00 and gave the company a "neutral" rating in a research report on Tuesday, April 23rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $19.11.
Check Out Our Latest Research Report on PCG
PG&E Company Profile
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Free Report)
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
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