Forsta AP Fonden Increases Stock Position in PG&E Co. (NYSE:PCG)

Forsta AP Fonden grew its position in shares of PG&E Co. (NYSE:PCG) by 1.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 392,500 shares of the utilities provider’s stock after buying an additional 4,900 shares during the quarter. Forsta AP Fonden’s holdings in PG&E were worth $7,921,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Versant Capital Management Inc increased its position in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the period. Commerce Bank increased its holdings in shares of PG&E by 1.5% in the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after acquiring an additional 712 shares during the period. Baker Tilly Wealth Management LLC raised its position in PG&E by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 715 shares during the last quarter. Continuum Advisory LLC boosted its stake in PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 769 shares during the period. Finally, iA Global Asset Management Inc. grew its position in PG&E by 2.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PCG has been the subject of a number of research reports. BMO Capital Markets assumed coverage on shares of PG&E in a report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. UBS Group decreased their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday. Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Barclays decreased 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. Finally, Mizuho boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.36.

PG&E Stock Performance

Shares of PCG opened at $15.68 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a 52-week low of $15.52 and a 52-week high of $21.72. The company has a 50-day simple moving average of $19.24 and a 200-day simple moving average of $19.41. The company has a market capitalization of $40.99 billion, a PE ratio of 12.25, a P/E/G ratio of 1.15 and a beta of 0.98.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same period last year, the company posted $0.24 earnings per share. Equities research analysts predict that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.64%. This is an increase from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, December 31st. PG&E’s payout ratio is presently 7.81%.

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.