PG&E Co. (NYSE:PCG) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lifted its position in shares of PG&E Co. (NYSE:PCGFree Report) by 4.9% in the third quarter, Holdings Channel reports. The institutional investor owned 31,923 shares of the utilities provider’s stock after acquiring an additional 1,503 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PG&E were worth $515,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. First Trust Direct Indexing L.P. increased its holdings in shares of PG&E by 13.8% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock worth $438,000 after buying an additional 3,299 shares during the last quarter. Gamco Investors INC. ET AL increased its holdings in PG&E by 14.4% in the 2nd quarter. Gamco Investors INC. ET AL now owns 34,576 shares of the utilities provider’s stock valued at $597,000 after purchasing an additional 4,350 shares during the last quarter. Russell Investments Group Ltd. increased its holdings in PG&E by 82.7% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,611,331 shares of the utilities provider’s stock valued at $27,840,000 after purchasing an additional 729,290 shares during the last quarter. Mackenzie Financial Corp increased its holdings in PG&E by 78.7% in the 3rd quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock valued at $10,036,000 after purchasing an additional 288,280 shares during the last quarter. Finally, California Public Employees Retirement System increased its holdings in PG&E by 13.3% in the 3rd quarter. California Public Employees Retirement System now owns 3,817,990 shares of the utilities provider’s stock valued at $61,584,000 after purchasing an additional 448,375 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their target price on shares of PG&E from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. Mizuho lifted their target price on shares of PG&E from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 17th. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Barclays dropped their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Finally, Evercore ISI restated an “in-line” rating and issued a $16.00 price target on shares of PG&E in a research note on Monday, October 23rd. Four analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $18.75.

View Our Latest Stock Report on PCG

PG&E Price Performance

PG&E stock opened at $16.24 on Wednesday. The stock has a market cap of $42.41 billion, a P/E ratio of 18.88, a price-to-earnings-growth ratio of 4.91 and a beta of 1.38. The company has a fifty day simple moving average of $17.39 and a 200-day simple moving average of $17.01. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.32. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 2.09.

PG&E Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.25%. PG&E’s dividend payout ratio (DPR) is currently 4.65%.

PG&E Profile

(Free Report)

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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