CIBC Private Wealth Group LLC Buys 1,538 Shares of PG&E Co. (NYSE:PCG)

CIBC Private Wealth Group LLC increased its stake in PG&E Co. (NYSE:PCG) by 28.3% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 6,969 shares of the utilities provider’s stock after acquiring an additional 1,538 shares during the period. CIBC Private Wealth Group LLC’s holdings in PG&E were worth $134,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. boosted its holdings in shares of PG&E by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after buying an additional 6,151,233 shares in the last quarter. Geode Capital Management LLC boosted its stake in PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after acquiring an additional 536,914 shares in the last quarter. Norges Bank purchased a new stake in PG&E in the fourth quarter worth about $591,625,000. Pictet Asset Management Holding SA increased its stake in shares of PG&E by 0.5% during the fourth quarter. Pictet Asset Management Holding SA now owns 17,385,629 shares of the utilities provider’s stock valued at $350,842,000 after purchasing an additional 82,705 shares in the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of PG&E by 4.1% during the third quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider’s stock valued at $346,443,000 after purchasing an additional 681,369 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at PG&E

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

PG&E Stock Down 2.3 %

Shares of PG&E stock opened at $16.06 on Tuesday. 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’s 50 day moving average is $16.24 and its 200 day moving average is $18.55. The company has a market cap of $42.91 billion, a price-to-earnings ratio of 13.97, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

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

PG&E Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.62%. PG&E’s payout ratio is 8.70%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Morgan Stanley upped their price target on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. BMO Capital Markets increased their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.05.

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.