Charles Schwab Investment Management Inc. Purchases 602,151 Shares of PG&E Co. (NYSE:PCG)

Charles Schwab Investment Management Inc. boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,162,026 shares of the utilities provider’s stock after buying an additional 602,151 shares during the period. Charles Schwab Investment Management Inc. owned about 0.47% of PG&E worth $245,430,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCG. FMR LLC lifted its position in shares of 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 buying an additional 8,604,396 shares during the period. State Street Corp raised its stake in PG&E by 5.0% during the third 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. Brookfield Corp ON lifted its holdings in shares of PG&E by 45.6% during the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after acquiring an additional 3,958,495 shares during the period. Massachusetts Financial Services Co. MA boosted its stake 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 valued at $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. grew its holdings in shares of PG&E by 91.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after purchasing an additional 1,920,734 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction dated 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 sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now directly owns 14,864 shares in the company, 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. Insiders own 0.15% of the company’s stock.

PG&E Trading Down 1.8 %

PCG stock opened at $16.09 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a market cap of $42.98 billion, a P/E ratio of 13.99, a PEG ratio of 1.09 and a beta of 0.99. The business has a fifty day moving average of $16.83 and a 200-day moving average of $18.97.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the previous year, the business posted $0.47 EPS. As a group, equities research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.62%. PG&E’s dividend payout ratio is currently 8.70%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PCG. UBS Group cut their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Barclays cut their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $16.50 in a report on Friday, February 14th. BMO Capital Markets raised their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Mizuho boosted their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

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.