PG&E Co. (NYSE:PCG) Shares Acquired by Commerzbank Aktiengesellschaft FI

Commerzbank Aktiengesellschaft FI increased its position in PG&E Co. (NYSE:PCG) by 20.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,988 shares of the utilities provider’s stock after buying an additional 2,360 shares during the quarter. Commerzbank Aktiengesellschaft FI’s holdings in PG&E were worth $282,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in shares of PG&E by 4,623.1% during the third quarter. International Assets Investment Management LLC now owns 34,006 shares of the utilities provider’s stock valued at $672,000 after purchasing an additional 33,286 shares during the last quarter. Janney Montgomery Scott LLC lifted its holdings in shares of PG&E by 17.6% during the third quarter. Janney Montgomery Scott LLC now owns 80,874 shares of the utilities provider’s stock valued at $1,599,000 after purchasing an additional 12,092 shares during the last quarter. National Pension Service lifted its holdings in shares of PG&E by 3.1% during the third quarter. National Pension Service now owns 2,893,429 shares of the utilities provider’s stock valued at $57,203,000 after purchasing an additional 85,983 shares during the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of PG&E by 98.5% during the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of PG&E by 6.6% during the third quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider’s stock valued at $53,816,000 after purchasing an additional 169,503 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the stock in a transaction dated Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $20.00 to $16.50 in a research report on Friday, February 14th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, Barclays dropped their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E Stock Performance

Shares of PCG stock opened at $16.41 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. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The stock’s 50-day moving average is $16.92 and its two-hundred day moving average is $18.99. The firm has a market cap of $43.82 billion, a P/E ratio of 14.27, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its 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. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm posted $0.47 EPS. Analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is currently 8.70%.

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.