Commerzbank Aktiengesellschaft FI Boosts Stock Position in PG&E Co. (NYSE:PCG)

Commerzbank Aktiengesellschaft FI boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 20.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,988 shares of the utilities provider’s stock after purchasing an additional 2,360 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PG&E were worth $282,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. FMR LLC increased its holdings in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp grew its position in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares in the last quarter. Geode Capital Management LLC grew its position in shares of PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after acquiring an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of PG&E by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after acquiring an additional 1,822,835 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Stock Up 1.6 %

Shares of PG&E stock opened at $16.41 on Thursday. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a market capitalization of $43.82 billion, a P/E ratio of 14.27, a PEG ratio of 1.09 and a beta of 0.99. The business’s fifty day moving average price is $16.92 and its two-hundred day moving average price is $18.99. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the business posted $0.47 earnings per share. As a group, research analysts forecast 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 will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.61%. PG&E’s payout ratio is 8.70%.

Analysts Set New Price Targets

PCG has been the subject of several research reports. BMO Capital Markets lifted 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. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Barclays decreased 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. Mizuho lifted 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. Finally, Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.23.

Insider Transactions at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company’s stock, valued at approximately $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. Company insiders own 0.15% of the company’s stock.

About PG&E

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.