PG&E Co. (NYSE:PCG) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board cut its stake in PG&E Co. (NYSE:PCG) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,239,155 shares of the utilities provider’s stock after selling 179,875 shares during the period. Canada Pension Plan Investment Board owned 0.16% of PG&E worth $85,546,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc raised its stake in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares in the last quarter. UMB Bank n.a. raised its stake in PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. lifted its holdings in PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,819 shares during the last quarter. Sierra Ocean LLC acquired a new position in shares of PG&E in the 4th quarter worth approximately $111,000. Finally, Huntington National Bank grew its position in shares of PG&E by 24.9% in the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock worth $122,000 after acquiring an additional 1,205 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insider Activity

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price 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 in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

PG&E Stock Up 0.3 %

PCG opened at $17.23 on Friday. The stock’s 50 day moving average price is $16.48 and its 200 day moving average price is $18.36. 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 has a market cap of $46.02 billion, a P/E ratio of 14.98, a P/E/G ratio of 1.09 and a beta of 0.70. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period last year, the company earned $0.47 earnings per share. As a group, research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The business 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. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. UBS Group lowered shares of PG&E from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets decreased their target price on PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday. Finally, Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.95.

PG&E Company 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.