Nippon Life Global Investors Americas Inc. Has $27.14 Million Holdings in PG&E Co. (NYSE:PCG)

Nippon Life Global Investors Americas Inc. boosted its position in shares of PG&E Co. (NYSE:PCG) by 0.5% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,343,180 shares of the utilities provider’s stock after purchasing an additional 7,120 shares during the period. PG&E accounts for approximately 1.3% of Nippon Life Global Investors Americas Inc.’s portfolio, making the stock its 27th largest holding. Nippon Life Global Investors Americas Inc.’s holdings in PG&E were worth $27,136,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of PCG. Teachers Retirement System of The State of Kentucky raised its holdings in shares of PG&E by 3.9% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 546,169 shares of the utilities provider’s stock worth $11,022,000 after buying an additional 20,722 shares in the last quarter. MML Investors Services LLC grew its position in PG&E by 51.3% in the fourth quarter. MML Investors Services LLC now owns 89,459 shares of the utilities provider’s stock valued at $1,805,000 after acquiring an additional 30,349 shares during the last quarter. MetLife Investment Management LLC raised its stake in PG&E by 4.0% during the fourth quarter. MetLife Investment Management LLC now owns 577,791 shares of the utilities provider’s stock worth $11,660,000 after acquiring an additional 21,994 shares in the last quarter. Norinchukin Bank The lifted its holdings in shares of PG&E by 16.1% in the fourth quarter. Norinchukin Bank The now owns 108,583 shares of the utilities provider’s stock worth $2,191,000 after acquiring an additional 15,073 shares during the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of PG&E by 20.3% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 129,883 shares of the utilities provider’s stock valued at $2,621,000 after purchasing an additional 21,953 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PCG has been the subject of a number of research analyst reports. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Barclays dropped their price target on PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Morgan Stanley increased their target price on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. Finally, 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. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.95.

PG&E Price Performance

PG&E stock opened at $16.87 on Tuesday. The firm has a market cap of $45.07 billion, a P/E ratio of 14.67, a P/E/G ratio of 1.09 and a beta of 0.70. The stock’s 50 day moving average is $16.53 and its 200 day moving average is $18.31. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a one year low of $14.99 and a one year high of $21.72.

PG&E (NYSE:PCG) last posted 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 net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same period in the prior year, the firm posted $0.47 EPS. As a group, research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

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.