Elo Mutual Pension Insurance Co Buys 4,463 Shares of PG&E Co. (NYSE:PCG)

Elo Mutual Pension Insurance Co lifted its stake in shares of PG&E Co. (NYSE:PCG) by 2.2% in the fourth quarter, Holdings Channel.com reports. The fund owned 207,746 shares of the utilities provider’s stock after acquiring an additional 4,463 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in PG&E were worth $4,192,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares during the last quarter. UMB Bank n.a. lifted its holdings in PG&E by 61.5% in 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 during the period. First Horizon Advisors Inc. boosted its position in PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 4,819 shares during the last quarter. Sierra Ocean LLC acquired a new stake in PG&E during the 4th quarter worth about $111,000. Finally, Brooklyn Investment Group bought a new position in shares of PG&E in the 3rd quarter worth about $115,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PCG. 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. Morgan Stanley raised their price objective on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Finally, Barclays dropped their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Price Performance

PCG stock opened at $17.15 on Friday. 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 business has a 50-day simple moving average of $16.21 and a two-hundred day simple moving average of $18.70. The company has a market capitalization of $45.81 billion, a P/E ratio of 14.91, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) 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 business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Research analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Insider Buying and Selling at PG&E

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

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.