abrdn plc Grows Stock Holdings in PG&E Co. (NYSE:PCG)

abrdn plc lifted its position in shares of PG&E Co. (NYSE:PCG) by 78.1% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 899,387 shares of the utilities provider’s stock after buying an additional 394,414 shares during the quarter. abrdn plc’s holdings in PG&E were worth $16,216,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Planned Solutions Inc. purchased a new position in shares of PG&E during the 4th quarter valued at $37,000. CVA Family Office LLC purchased a new stake in PG&E in the 4th quarter worth $43,000. AdvisorNet Financial Inc lifted its stake in PG&E by 470.6% in the 3rd quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 2,014 shares in the last quarter. Millburn Ridgefield Corp purchased a new stake in PG&E in the 3rd quarter worth $44,000. Finally, Catalyst Capital Advisors LLC purchased a new stake in PG&E in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of NYSE:PCG opened at $17.00 on Thursday. The company has a market capitalization of $36.33 billion, a price-to-earnings ratio of 16.19 and a beta of 1.32. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.32. The firm’s 50-day moving average is $16.56 and its 200 day moving average is $16.88. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The company had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same period in the prior year, the firm posted $0.26 EPS. Research analysts predict that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. PG&E’s dividend payout ratio is currently 3.81%.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Barclays decreased their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. JPMorgan Chase & Co. boosted their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Finally, StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $18.89.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.