Quantinno Capital Management LP Increases Stock Position in PG&E Co. (NYSE:PCG)

Quantinno Capital Management LP raised its stake in shares of PG&E Co. (NYSE:PCG) by 35.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 110,871 shares of the utilities provider’s stock after purchasing an additional 29,277 shares during the quarter. Quantinno Capital Management LP’s holdings in PG&E were worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after acquiring an additional 6,151,233 shares in the last quarter. Geode Capital Management LLC lifted its stake in PG&E by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock worth $1,046,462,000 after purchasing an additional 2,151,494 shares during the last quarter. Capital Research Global Investors boosted its holdings in shares of 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 worth $944,540,000 after purchasing an additional 19,317,171 shares in the last quarter. Norges Bank purchased a new position in shares of PG&E in the 4th quarter worth about $591,625,000. Finally, Northern Trust Corp increased its position in shares of PG&E by 6.8% during the 4th 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 last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

PCG has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Evercore ISI boosted their price objective on shares of PG&E from $15.00 to $17.00 and gave the stock an “in-line” rating in a report on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Mizuho lifted their target price on shares of PG&E from $20.00 to $21.00 and gave the stock an “outperform” rating in a research report on Monday. Finally, Barclays lowered their price target on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $20.71.

PG&E Stock Performance

Shares of NYSE:PCG opened at $17.75 on Wednesday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a 50-day moving average price of $17.06 and a 200-day moving average price of $17.89. The company has a market cap of $47.49 billion, a price-to-earnings ratio of 15.43, 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.

PG&E (NYSE:PCG) last released 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). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the previous year, the company earned $0.37 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

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

Insider Activity at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This trade represents a 15.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39% increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by company insiders.

PG&E 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.