PG&E Co. (NYSE:PCG) Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S increased its holdings in shares of PG&E Co. (NYSE:PCG) by 149.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 48,316 shares of the utilities provider’s stock after acquiring an additional 28,976 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in PG&E were worth $810,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Jennison Associates LLC boosted its position in PG&E by 0.5% during the first quarter. Jennison Associates LLC now owns 14,902,997 shares of the utilities provider’s stock worth $249,774,000 after acquiring an additional 78,550 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in PG&E by 8.4% during the first quarter. Daiwa Securities Group Inc. now owns 267,997 shares of the utilities provider’s stock worth $4,491,000 after acquiring an additional 20,816 shares during the last quarter. Nordea Investment Management AB boosted its position in PG&E by 19.4% during the first quarter. Nordea Investment Management AB now owns 172,768 shares of the utilities provider’s stock worth $2,893,000 after acquiring an additional 28,036 shares during the last quarter. First Pacific Advisors LP boosted its position in PG&E by 0.3% during the first quarter. First Pacific Advisors LP now owns 1,124,940 shares of the utilities provider’s stock worth $18,854,000 after acquiring an additional 3,826 shares during the last quarter. Finally, Fidelis Capital Partners LLC acquired a new position in PG&E during the first quarter worth about $165,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is currently owned by company insiders.

PG&E Stock Up 0.8 %

PCG traded up $0.14 during trading hours on Wednesday, hitting $17.48. 2,668,442 shares of the company’s stock were exchanged, compared to its average volume of 14,623,528. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95. The firm has a 50 day moving average of $17.94 and a 200 day moving average of $17.23. The firm has a market cap of $50.33 billion, a P/E ratio of 15.48 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the previous year, the business posted $0.29 EPS. The firm’s revenue was down 5.6% on a year-over-year basis. Analysts predict that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.23%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PCG. Barclays lowered their price target on shares of PG&E from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price on the stock. Citigroup lifted their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Morgan Stanley reduced their price target on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.11.

About PG&E

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.