PG&E Co. (NYSE:PCG) Shares Purchased by Mizuho Securities USA LLC

Mizuho Securities USA LLC boosted its position in PG&E Co. (NYSE:PCG) by 49.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 207,203 shares of the utilities provider’s stock after purchasing an additional 68,600 shares during the quarter. Mizuho Securities USA LLC’s holdings in PG&E were worth $4,181,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Czech National Bank lifted its stake in shares of PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after acquiring an additional 38,590 shares in the last quarter. New York State Teachers Retirement System grew its holdings 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 during the last quarter. State Street Corp boosted its position 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 worth $2,155,093,000 after buying an additional 5,191,463 shares during the period. McElhenny Sheffield Capital Management LLC acquired a new position in shares of PG&E during the fourth quarter worth approximately $514,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of PG&E during the fourth quarter worth approximately $466,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Buying and Selling at PG&E

In other news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction 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 purchase, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of NYSE:PCG opened at $16.91 on Monday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The stock has a fifty day moving average of $16.16 and a 200-day moving average of $18.77. The company has a market capitalization of $45.16 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is currently 8.70%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Mizuho upped 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. Morgan Stanley upped their target price on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

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.