PG&E Co. (NYSE:PCG) Shares Acquired by Fifth Third Bancorp

Fifth Third Bancorp boosted its holdings in shares of PG&E Co. (NYSE:PCG) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,665 shares of the utilities provider’s stock after purchasing an additional 2,895 shares during the quarter. Fifth Third Bancorp’s holdings in PG&E were worth $760,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Renaissance Technologies LLC acquired a new position in shares of PG&E in the 2nd quarter valued at about $2,565,000. The Manufacturers Life Insurance Company boosted its stake in PG&E by 12.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,420,464 shares of the utilities provider’s stock valued at $24,801,000 after purchasing an additional 160,465 shares during the period. Algert Global LLC bought a new position in PG&E in the 2nd quarter worth about $400,000. Creative Planning increased its stake in shares of PG&E by 39.6% in the second quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock valued at $1,944,000 after purchasing an additional 31,573 shares during the period. Finally, EP Wealth Advisors LLC raised its holdings in shares of PG&E by 232.7% during the second quarter. EP Wealth Advisors LLC now owns 39,018 shares of the utilities provider’s stock valued at $681,000 after buying an additional 27,289 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group lowered their price target on PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Barclays cut their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday. BMO Capital Markets initiated coverage on shares of PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. Finally, Jefferies Financial Group started coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Two equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.55.

PG&E Price Performance

Shares of NYSE:PCG opened at $15.79 on Thursday. The company has a market capitalization of $41.30 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The stock has a fifty day moving average of $19.24 and a 200-day moving average of $19.41. PG&E Co. has a one year low of $15.74 and a one year high of $21.72.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.24 earnings per share. As a group, equities analysts anticipate that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio is 7.81%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

About PG&E

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.