Cibc World Markets Corp Acquires 53,982 Shares of PG&E Co. (NYSE:PCG)

Cibc World Markets Corp raised its holdings in PG&E Co. (NYSE:PCG) by 19.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 337,878 shares of the utilities provider’s stock after purchasing an additional 53,982 shares during the quarter. Cibc World Markets Corp’s holdings in PG&E were worth $6,818,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. FMR LLC grew its stake in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the period. State Street Corp lifted its holdings in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. Geode Capital Management LLC increased its stake in shares of PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after purchasing an additional 1,822,835 shares during the period. Institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

PCG stock opened at $17.20 on Wednesday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market cap of $45.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.09 and a beta of 1.04. The firm’s fifty day moving average is $16.25 and its 200 day moving average is $18.83. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.47 earnings per share. 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Analysts Set New Price Targets

A number of research firms have recently commented on PCG. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. BMO Capital Markets raised their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Mizuho upped their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. Finally, UBS Group decreased their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One 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. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Insider Transactions at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now directly owns 14,864 shares of the company’s stock, 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 SEC, which is available at this link. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the transaction, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. Company 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.