BROOKFIELD Corp ON Has $296.49 Million Holdings in PG&E Co. (NYSE:PCG)

BROOKFIELD Corp ON boosted its holdings in PG&E Co. (NYSE:PCG - Free Report) by 16.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,692,444 shares of the utilities provider's stock after buying an additional 2,049,359 shares during the quarter. PG&E accounts for approximately 1.8% of BROOKFIELD Corp ON's holdings, making the stock its 8th biggest position. BROOKFIELD Corp ON owned approximately 0.56% of PG&E worth $296,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC grew its holdings in shares of PG&E by 8.0% in the third quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider's stock worth $112,541,000 after acquiring an additional 420,133 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in shares of PG&E during the 3rd quarter valued at about $349,000. Tidal Investments LLC increased its position in shares of PG&E by 4.7% during the 3rd quarter. Tidal Investments LLC now owns 55,938 shares of the utilities provider's stock valued at $1,106,000 after purchasing an additional 2,527 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of PG&E by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider's stock worth $53,816,000 after purchasing an additional 169,503 shares during the period. Finally, Versant Capital Management Inc boosted its holdings in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after buying an additional 626 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

PG&E Price Performance

Shares of NYSE:PCG traded down $0.07 during midday trading on Friday, reaching $17.11. 17,180,187 shares of the company were exchanged, compared to its average volume of 16,513,497. The stock has a market cap of $45.78 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The business's fifty day moving average is $16.86 and its two-hundred day moving average is $18.07. PG&E Co. has a one year low of $14.99 and a one year 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.

PG&E (NYSE:PCG - Get Free Report) last announced its 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 business had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. During the same quarter in the prior year, the company posted $0.37 earnings per share. The firm's quarterly revenue was up 2.1% compared to the same quarter last year. As a group, analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. PG&E's dividend payout ratio (DPR) is presently 9.17%.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the transaction, the executive vice president now owns 151,116 shares in the company, valued at $2,614,306.80. The trade was a 17.71 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of the firm's stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.14% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Barclays reduced their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Evercore ISI raised their target price on PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. 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. Guggenheim upped their price target on PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, BMO Capital Markets lowered their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. 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 stock. According to MarketBeat.com, PG&E has a consensus rating of "Moderate Buy" and an average target price of $21.13.

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.