AEGON ASSET MANAGEMENT UK Plc Sells 59,318 Shares of PG&E Co. (NYSE:PCG)

AEGON ASSET MANAGEMENT UK Plc trimmed its stake in shares of PG&E Co. (NYSE:PCG) by 7.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 783,030 shares of the utilities provider’s stock after selling 59,318 shares during the period. AEGON ASSET MANAGEMENT UK Plc’s holdings in PG&E were worth $15,817,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in PCG. Versant Capital Management Inc raised its stake in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares during the period. Commerce Bank grew its stake in shares of PG&E by 1.5% during the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 712 shares in the last quarter. Baker Tilly Wealth Management LLC grew its holdings in shares of PG&E by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 715 shares in the last quarter. Continuum Advisory LLC increased its position in shares of PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its stake in shares of PG&E by 2.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Stock Performance

NYSE PCG opened at $16.52 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. The company has a fifty day moving average of $19.55 and a 200-day moving average of $19.43. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The company has a market capitalization of $43.19 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.15 and a beta of 0.98.

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

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.025 per share. This is an increase from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. PG&E’s dividend payout ratio is 7.81%.

Wall Street Analyst Weigh In

PCG has been the subject of a number of research reports. BMO Capital Markets assumed coverage on shares of PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 target price for the company. Mizuho raised their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their price target on PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. UBS Group dropped their target price on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and an average target price of $22.64.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is owned by corporate insiders.

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.