PG&E Co. (NYSE:PCG) Shares Purchased by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp lifted its stake in PG&E Co. (NYSE:PCG) by 20.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 84,806 shares of the utilities provider’s stock after purchasing an additional 14,305 shares during the period. OMERS ADMINISTRATION Corp’s holdings in PG&E were worth $1,711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after purchasing an additional 6,151,233 shares during the period. Geode Capital Management LLC lifted its stake in shares of PG&E by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock valued at $1,046,462,000 after purchasing an additional 2,151,494 shares during the period. Capital Research Global Investors lifted its stake in shares of PG&E by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock valued at $944,540,000 after purchasing an additional 19,317,171 shares during the period. Norges Bank acquired a new stake in shares of PG&E in the fourth quarter valued at about $591,625,000. Finally, Northern Trust Corp lifted its stake in shares of PG&E by 6.8% in the fourth quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider’s stock valued at $385,962,000 after purchasing an additional 1,214,394 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of NYSE PCG opened at $17.38 on Friday. The company has a market cap of $46.50 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a 50-day simple moving average of $16.97 and a 200-day simple moving average of $17.96.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business’s quarterly revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.37 earnings per share. On average, equities analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. PG&E’s dividend payout ratio is presently 9.17%.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,519 shares of the firm’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares in the company, valued at $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent analyst reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 price objective on shares of PG&E in a research note on Friday, April 25th. Guggenheim raised their target price on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 25th. BMO Capital Markets dropped their target price on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, April 14th. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Jefferies Financial Group raised their target price on shares of PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average price target of $21.13.

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.