Xponance Inc. Grows Holdings in PG&E Co. (NYSE:PCG)

Xponance Inc. grew its holdings in shares of PG&E Co. (NYSE:PCG) by 26.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 439,694 shares of the utilities provider’s stock after buying an additional 93,296 shares during the quarter. Xponance Inc.’s holdings in PG&E were worth $7,928,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AIA Group Ltd purchased a new position in shares of PG&E during the 4th quarter valued at approximately $1,401,000. Daiwa Securities Group Inc. boosted its stake in shares of PG&E by 7.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 247,181 shares of the utilities provider’s stock valued at $4,456,000 after buying an additional 16,723 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of PG&E by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock valued at $16,639,000 after buying an additional 76,178 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in shares of PG&E by 13.2% during the 4th quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 5,188,119 shares of the utilities provider’s stock valued at $93,542,000 after buying an additional 603,222 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of PG&E during the 4th quarter valued at approximately $2,326,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCG has been the topic of several research reports. Barclays dropped their price target on PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, The Goldman Sachs Group assumed coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $18.78.

PG&E Price Performance

Shares of NYSE PCG opened at $16.85 on Friday. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The firm’s 50-day simple moving average is $16.51 and its 200 day simple moving average is $16.82. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 2.04. The stock has a market cap of $36.00 billion, a P/E ratio of 16.04 and a beta of 1.32.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same period in the previous year, the business earned $0.26 earnings per share. Equities analysts expect that PG&E Co. will post 1.35 EPS for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. The ex-dividend date was Wednesday, March 27th. PG&E’s dividend payout ratio is currently 3.81%.

PG&E Profile

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.