Norinchukin Bank The Increases Holdings in PG&E Co. (NYSE:PCG)

Norinchukin Bank The boosted its position in PG&E Co. (NYSE:PCG) by 16.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 108,583 shares of the utilities provider’s stock after purchasing an additional 15,073 shares during the period. Norinchukin Bank The’s holdings in PG&E were worth $2,191,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Czech National Bank boosted its stake in shares of PG&E by 8.9% in the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after purchasing an additional 38,590 shares in the last quarter. New York State Teachers Retirement System lifted its stake in PG&E by 8.2% in the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after purchasing an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new stake in PG&E during the fourth quarter valued at about $514,000. Atria Wealth Solutions Inc. bought a new position in shares of PG&E during the fourth quarter valued at about $466,000. Finally, Merit Financial Group LLC purchased a new position in shares of PG&E in the fourth quarter worth about $336,000. 78.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the stock in a transaction dated Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the 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 sale, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by insiders.

PG&E Stock Up 0.3 %

PCG stock opened at $17.23 on Monday. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company has a market capitalization of $46.02 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The business’s 50 day moving average price is $16.51 and its two-hundred day moving average price is $18.33. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share 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 period in the prior year, the firm earned $0.47 earnings per share. As a group, analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently issued reports on PCG. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley lifted their target price on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets lowered their price objective on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday, April 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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.