DnB Asset Management AS Has $10.51 Million Holdings in PG&E Co. (NYSE:PCG)

DnB Asset Management AS raised its stake in shares of PG&E Co. (NYSE:PCG) by 8.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 520,867 shares of the utilities provider’s stock after buying an additional 39,873 shares during the period. DnB Asset Management AS’s holdings in PG&E were worth $10,511,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCG. Versant Capital Management Inc boosted its position in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the last quarter. UMB Bank n.a. boosted its holdings in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 4,819 shares in the last quarter. Sierra Ocean LLC purchased a new stake in shares of PG&E in the fourth quarter valued at about $111,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of PG&E by 32.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock valued at $126,000 after purchasing an additional 1,526 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were 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 $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Barclays decreased their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Morgan Stanley increased their price target on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Finally, BMO Capital Markets boosted their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

PG&E Price Performance

PCG opened at $16.98 on Friday. The firm has a 50-day moving average price of $16.21 and a 200-day moving average price of $18.68. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $45.35 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same period in the previous year, the business earned $0.47 EPS. Equities analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. PG&E’s dividend payout ratio (DPR) is 8.70%.

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.