Nissay Asset Management Corp Japan ADV Raises Stock Holdings in PG&E Co. (NYSE:PCG)

Nissay Asset Management Corp Japan ADV boosted its stake in shares of PG&E Co. (NYSE:PCG) by 43.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 348,164 shares of the utilities provider’s stock after buying an additional 104,797 shares during the quarter. Nissay Asset Management Corp Japan ADV’s holdings in PG&E were worth $7,012,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of PCG. Barclays PLC boosted its position in shares of PG&E by 8.0% during the 3rd quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider’s stock worth $112,541,000 after purchasing an additional 420,133 shares during the period. Wedmont Private Capital lifted its stake in PG&E by 7.0% during the fourth quarter. Wedmont Private Capital now owns 24,459 shares of the utilities provider’s stock worth $494,000 after purchasing an additional 1,591 shares in the last quarter. Pallas Capital Advisors LLC lifted its stake in PG&E by 35.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 18,080 shares of the utilities provider’s stock worth $365,000 after purchasing an additional 4,720 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of PG&E during the fourth quarter worth $950,000. Finally, Assenagon Asset Management S.A. grew its stake in shares of PG&E by 4.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 32,876 shares of the utilities provider’s stock valued at $663,000 after buying an additional 1,423 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Barclays lowered their target price on PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. 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. Jefferies Financial Group lifted their price objective on shares of PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Guggenheim upped their target price on shares of PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Finally, UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus price target of $21.13.

Insider Transactions at PG&E

In other news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were acquired 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 of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carla J. Peterman sold 32,519 shares of the company’s stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares of the company’s stock, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.14% of the company’s stock.

PG&E Stock Performance

NYSE:PCG opened at $17.38 on Friday. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. 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 $46.50 billion, a PE ratio of 15.11, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The business’s fifty day moving average price is $16.97 and its 200 day moving average price is $17.96.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the previous year, the company posted $0.37 EPS. The company’s revenue was up 2.1% compared to the same quarter last year. On average, sell-side analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.58%. PG&E’s dividend payout ratio is currently 9.17%.

PG&E 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.