Zimmer Partners LP Has $255.51 Million Stock Position in PG&E Co. (NYSE:PCG)

Zimmer Partners LP lifted its position in shares of PG&E Co. (NYSE:PCG) by 84.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 12,661,324 shares of the utilities provider’s stock after buying an additional 5,814,624 shares during the period. PG&E comprises approximately 4.4% of Zimmer Partners LP’s portfolio, making the stock its 4th biggest holding. Zimmer Partners LP’s holdings in PG&E were worth $255,506,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PCG. Norges Bank bought a new position in PG&E in the 4th quarter valued at approximately $591,625,000. Capital Research Global Investors lifted its stake in PG&E by 70.3% in the 4th 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 last quarter. Vanguard Group Inc. lifted its stake in PG&E by 2.5% in the 4th 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 last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in PG&E by 244.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock valued at $95,066,000 after purchasing an additional 3,340,599 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI lifted its stake in PG&E by 272.5% in the 4th quarter. Zurich Insurance Group Ltd FI now owns 3,560,305 shares of the utilities provider’s stock valued at $71,847,000 after purchasing an additional 2,604,445 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 0.8%

PCG opened at $17.73 on Tuesday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a fifty day moving average of $17.03 and a 200-day moving average of $17.89. The stock has a market cap of $47.44 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

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

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date of this dividend was Monday, March 31st. PG&E’s payout ratio is 9.17%.

Wall Street Analyst Weigh In

Several brokerages recently commented on PCG. Guggenheim increased their price objective on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Mizuho increased their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday. Wells Fargo & Company reaffirmed an “overweight” rating and set a $24.00 price target on shares of PG&E in a research note on Friday, April 25th. Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a research note on Wednesday, April 23rd. Finally, BMO Capital Markets dropped their price target on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.71.

Insiders Place Their Bets

In related news, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the sale, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was a 15.05% 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.

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.