CIBC Asset Management Inc Acquires 20,031 Shares of PG&E Co. (NYSE:PCG)

CIBC Asset Management Inc grew its holdings in PG&E Co. (NYSE:PCG) by 6.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 331,470 shares of the utilities provider’s stock after acquiring an additional 20,031 shares during the period. CIBC Asset Management Inc’s holdings in PG&E were worth $6,689,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Versant Capital Management Inc grew its holdings in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares in the last quarter. Commerce Bank increased its position in PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC raised its stake in PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 715 shares in the last quarter. Continuum Advisory LLC lifted its position in PG&E by 11.4% during the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. grew its stake in shares of PG&E by 2.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after buying an additional 812 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 1.7 %

Shares of PCG opened at $15.68 on Thursday. 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 firm has a market capitalization of $41.89 billion, a price-to-earnings ratio of 13.64, a PEG ratio of 1.07 and a beta of 0.99. The company has a 50-day moving average of $17.66 and a 200 day moving average of $19.14. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $6.63 billion for 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 quarter in the prior year, the firm earned $0.47 earnings per share. On average, research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCG. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. BMO Capital Markets boosted their target price on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday. UBS Group lowered their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $20.00 to $16.50 in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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.