Investment Management Corp of Ontario Purchases 17,689 Shares of PG&E Co. (NYSE:PCG)

Investment Management Corp of Ontario lifted its position in PG&E Co. (NYSE:PCG) by 26.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 85,145 shares of the utilities provider’s stock after acquiring an additional 17,689 shares during the period. Investment Management Corp of Ontario’s holdings in PG&E were worth $1,718,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of PG&E by 2.5% in the 4th 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 increased its position in PG&E by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock valued at $1,046,462,000 after buying an additional 2,151,494 shares in the last quarter. Capital Research Global Investors increased its position in PG&E by 70.3% during 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 buying an additional 19,317,171 shares in the last quarter. Norges Bank bought a new position in PG&E during the 4th quarter valued at approximately $591,625,000. Finally, Northern Trust Corp increased its position in 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 buying an additional 1,214,394 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of a number of analyst reports. BMO Capital Markets reduced their price objective on PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, April 14th. Guggenheim raised their price objective on PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a research 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. Based on data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $21.13.

PG&E Stock Performance

Shares of PCG opened at $17.11 on Monday. The business’s fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $18.01. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a market cap of $45.78 billion, a price-to-earnings ratio of 14.88, a P/E/G ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion during 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% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. Research analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. PG&E’s dividend payout ratio (DPR) is currently 9.17%.

Insider Transactions at PG&E

In related news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, for a total transaction 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. This trade represents a 75.39% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the transaction, the executive vice president now owns 151,116 shares in the company, valued at $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.14% of the company’s stock.

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.