Elo Mutual Pension Insurance Co Buys 18,246 Shares of PG&E Co. (NYSE:PCG)

Elo Mutual Pension Insurance Co boosted its holdings in shares of PG&E Co. (NYSE:PCGFree Report) by 11.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 176,933 shares of the utilities provider’s stock after acquiring an additional 18,246 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in PG&E were worth $3,190,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in PG&E by 8.8% during the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock valued at $4,329,416,000 after acquiring an additional 21,731,911 shares during the period. FMR LLC boosted its holdings in PG&E by 2.4% during the 3rd quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock valued at $2,839,363,000 after acquiring an additional 4,044,631 shares during the period. Capital International Investors boosted its holdings in PG&E by 7.1% during the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock valued at $2,093,198,000 after acquiring an additional 7,681,566 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in PG&E by 1.2% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock valued at $1,523,828,000 after acquiring an additional 993,923 shares during the period. Finally, Third Point LLC lifted its holdings in shares of PG&E by 5.3% in the 3rd quarter. Third Point LLC now owns 56,860,000 shares of the utilities provider’s stock worth $917,152,000 after buying an additional 2,860,000 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 2.2 %

Shares of NYSE:PCG opened at $18.44 on Tuesday. The business’s 50-day moving average is $17.58 and its 200 day moving average is $17.21. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $18.95. The firm has a market capitalization of $53.09 billion, a P/E ratio of 16.46 and a beta of 1.19. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93.

PG&E (NYSE:PCGGet Free Report) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same period in the prior year, the company posted $0.29 EPS. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. On average, research analysts predict that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.22%. The ex-dividend date is Friday, June 28th. PG&E’s dividend payout ratio is presently 3.57%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PCG shares. Mizuho upped their target price on PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Morgan Stanley upped their price objective on PG&E from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Barclays upped their price objective on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $22.00 in a research note on Monday. Finally, The Goldman Sachs Group began coverage on PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, PG&E presently has an average rating of “Moderate Buy” and an average target price of $20.25.

Get Our Latest Stock Analysis on PG&E

Insider Activity

In other news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

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.

Further Reading

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

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