Cibc World Markets Corp Has $6.82 Million Stock Position in PG&E Co. (NYSE:PCG)

Cibc World Markets Corp increased its holdings in shares of PG&E Co. (NYSE:PCG) by 19.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 337,878 shares of the utilities provider’s stock after acquiring an additional 53,982 shares during the quarter. Cibc World Markets Corp’s holdings in PG&E were worth $6,818,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Corient Private Wealth LLC raised its position in shares of PG&E by 21.3% in the fourth quarter. Corient Private Wealth LLC now owns 182,541 shares of the utilities provider’s stock valued at $3,683,000 after buying an additional 32,043 shares in the last quarter. Envestnet Portfolio Solutions Inc. raised its stake in PG&E by 200.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 59,602 shares of the utilities provider’s stock valued at $1,203,000 after purchasing an additional 39,790 shares in the last quarter. Natixis Advisors LLC raised its stake in PG&E by 7.7% in the fourth quarter. Natixis Advisors LLC now owns 1,553,863 shares of the utilities provider’s stock valued at $31,357,000 after purchasing an additional 111,450 shares in the last quarter. Picton Mahoney Asset Management bought a new stake in PG&E during the fourth quarter worth about $7,213,000. Finally, Commonwealth Equity Services LLC increased its holdings in PG&E by 5.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 42,183 shares of the utilities provider’s stock valued at $851,000 after buying an additional 2,052 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCG. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. UBS Group dropped their target price 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Barclays decreased their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Finally, Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $20.00 to $16.50 in a report on Friday, February 14th. One 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. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E Stock Up 0.5 %

Shares of PG&E stock opened at $17.20 on Wednesday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The stock’s 50-day moving average is $16.25 and its 200 day moving average is $18.83. The firm has a market cap of $45.93 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last issued its 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 net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities research analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is currently 8.70%.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This 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 can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.