Mitsubishi UFJ Trust & Banking Corp Grows Holdings in PG&E Co. (NYSE:PCG)

Mitsubishi UFJ Trust & Banking Corp boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 244.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,706,647 shares of the utilities provider’s stock after acquiring an additional 3,340,599 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in PG&E were worth $95,066,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of PG&E by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares in the last quarter. FMR LLC boosted its holdings in PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares in the last quarter. State Street Corp increased its holdings in shares of PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after acquiring an additional 5,191,463 shares in the last quarter. Geode Capital Management LLC boosted its stake in PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in PG&E by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after purchasing an additional 1,822,835 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Activity at PG&E

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $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 currently owned by insiders.

Analyst Ratings Changes

Several research firms recently commented on PCG. Morgan Stanley increased their price objective on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Mizuho raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets boosted their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One equities research 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.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Stock Up 1.6 %

PCG opened at $17.16 on Tuesday. The stock has a market cap of $45.83 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm’s fifty day moving average is $16.18 and its 200 day moving average is $18.75. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72.

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, hitting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, sell-side analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

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.