Artemis Investment Management LLP Buys 446,848 Shares of PG&E Co. (NYSE:PCG)

Artemis Investment Management LLP increased its stake in shares of PG&E Co. (NYSE:PCG) by 6.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,598,807 shares of the utilities provider’s stock after buying an additional 446,848 shares during the quarter. PG&E accounts for about 2.0% of Artemis Investment Management LLP’s investment portfolio, making the stock its 11th largest position. Artemis Investment Management LLP owned 0.29% of PG&E worth $137,009,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also modified their holdings of PCG. Clear Street Markets LLC acquired a new stake in shares of PG&E in the 4th quarter valued at $26,000. Quarry LP bought a new position in PG&E during the second quarter worth about $34,000. Toth Financial Advisory Corp bought a new position in PG&E during the third quarter worth about $35,000. AdvisorNet Financial Inc lifted its holdings in PG&E by 470.6% during the third quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 2,014 shares in the last quarter. Finally, CVA Family Office LLC bought a new position in PG&E during the fourth quarter worth about $43,000. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.2 %

Shares of NYSE PCG traded up $0.04 during midday trading on Monday, hitting $16.45. 5,985,242 shares of the company traded hands, compared to its average volume of 16,717,805. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. The stock has a 50-day moving average price of $16.58 and a 200 day moving average price of $16.87. The firm has a market cap of $42.96 billion, a P/E ratio of 15.63, a P/E/G ratio of 4.84 and a beta of 1.32.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same quarter in the prior year, the company earned $0.26 earnings per share. As a group, analysts expect that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date is Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is 3.81%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays cut their target price on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.72.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.