PG&E Co. (NYSE:PCG) Shares Bought by CANADA LIFE ASSURANCE Co

CANADA LIFE ASSURANCE Co grew its holdings in PG&E Co. (NYSE:PCG) by 6.6% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,838,322 shares of the utilities provider’s stock after buying an additional 174,707 shares during the quarter. CANADA LIFE ASSURANCE Co’s holdings in PG&E were worth $57,299,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCG. Czech National Bank lifted its holdings in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after acquiring an additional 38,590 shares during the period. New York State Teachers Retirement System lifted its stake in shares of PG&E by 8.2% in the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after purchasing an additional 148,860 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in PG&E during the fourth quarter worth about $514,000. Atria Wealth Solutions Inc. acquired a new position in PG&E during the fourth quarter worth about $466,000. Finally, Merit Financial Group LLC purchased a new position in PG&E in the fourth quarter valued at about $336,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. BMO Capital Markets dropped their price objective on PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a research note on Monday. Morgan Stanley lifted 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. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, Barclays dropped their price objective on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus target price of $21.95.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,521 shares of the company’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 transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction 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 acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Up 0.3 %

PCG stock opened at $17.23 on Friday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The stock has a market capitalization of $46.02 billion, a P/E ratio of 14.98, a PEG ratio of 1.09 and a beta of 0.70. The company has a 50 day moving average price of $16.48 and a two-hundred day moving average price of $18.36. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. PG&E’s payout ratio is currently 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.