Mn Services Vermogensbeheer B.V. Boosts Stake in PG&E Co. (NYSE:PCG)

Mn Services Vermogensbeheer B.V. increased its position in PG&E Co. (NYSE:PCG) by 1.7% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 790,300 shares of the utilities provider’s stock after purchasing an additional 13,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in PG&E were worth $15,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Czech National Bank lifted its position in PG&E by 8.9% during the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after acquiring an additional 38,590 shares during the period. New York State Teachers Retirement System increased its stake in shares of PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after purchasing an additional 148,860 shares in the last quarter. State Street Corp lifted its holdings in shares of PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. boosted its position in shares of PG&E by 259.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after purchasing an additional 44,650 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new stake in shares of PG&E in the 4th quarter worth approximately $514,000. 78.56% of the stock is currently owned by institutional investors.

PG&E Price Performance

PCG stock opened at $15.95 on Friday. 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’s fifty day moving average price is $17.29 and its 200-day moving average price is $19.07. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a market capitalization of $42.59 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the previous year, the business earned $0.47 earnings per share. On average, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.025 per share. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.63%. PG&E’s dividend payout ratio (DPR) is currently 8.70%.

Analysts Set New Price Targets

PCG has been the subject of several recent analyst reports. BMO Capital Markets lifted their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Barclays cut their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Finally, Mizuho increased their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E Company 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.