State of Alaska Department of Revenue Purchases 101,075 Shares of PG&E Co. (NYSE:PCG)

State of Alaska Department of Revenue grew its position in PG&E Co. (NYSE:PCG) by 40.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 349,370 shares of the utilities provider’s stock after buying an additional 101,075 shares during the period. State of Alaska Department of Revenue’s holdings in PG&E were worth $7,050,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCG. FMR LLC raised its holdings in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp grew its position in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after buying an additional 5,191,463 shares during the period. Brookfield Corp ON grew its position in shares of PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after buying an additional 3,958,495 shares during the period. Massachusetts Financial Services Co. MA raised its stake in shares of PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in PG&E by 91.2% in the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock valued at $79,622,000 after buying an additional 1,920,734 shares during the period. Institutional investors own 78.56% of the company’s stock.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on PCG. Jefferies Financial Group assumed coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. UBS Group decreased their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Mizuho boosted their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, BMO Capital Markets started coverage on shares of PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 price target on the stock. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.36.

PG&E Price Performance

NYSE PCG opened at $15.34 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The business has a 50 day simple moving average of $18.53 and a 200 day simple moving average of $19.30. The stock has a market cap of $40.13 billion, a price-to-earnings ratio of 11.99, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. Analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

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.