Howard Capital Management Inc. Raises Stock Position in PG&E Co. (NYSE:PCG)

Howard Capital Management Inc. grew its holdings in PG&E Co. (NYSE:PCG) by 32.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 59,799 shares of the utilities provider’s stock after acquiring an additional 14,786 shares during the period. Howard Capital Management Inc.’s holdings in PG&E were worth $1,207,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Czech National Bank raised its stake in PG&E by 8.9% during the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after purchasing an additional 38,590 shares during the period. New York State Teachers Retirement System grew its holdings in PG&E by 8.2% during the 4th 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 buying an additional 148,860 shares in the last quarter. State Street Corp raised its position 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 buying an additional 5,191,463 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of PG&E by 259.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after buying an additional 44,650 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in PG&E during the fourth quarter valued at $514,000. Institutional investors own 78.56% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. UBS Group decreased their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, BMO Capital Markets boosted their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E Trading Up 1.6 %

Shares of PCG opened at $15.94 on Monday. The company’s fifty day simple moving average is $17.50 and its 200-day simple moving average is $19.12. The company has a market cap of $42.57 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

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

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.63%. 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.