Cbre Investment Management Listed Real Assets LLC Acquires 1,795,789 Shares of PG&E Co. (NYSE:PCG)

Cbre Investment Management Listed Real Assets LLC boosted its stake in shares of PG&E Co. (NYSE:PCG) by 40.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,290,147 shares of the utilities provider’s stock after acquiring an additional 1,795,789 shares during the period. PG&E accounts for about 2.2% of Cbre Investment Management Listed Real Assets LLC’s portfolio, making the stock its 12th biggest position. Cbre Investment Management Listed Real Assets LLC owned about 0.24% of PG&E worth $126,935,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Versant Capital Management Inc lifted its position in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares during the period. UMB Bank n.a. raised its position in shares of PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,506 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of PG&E by 98.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 2,154 shares during the period. Huntington National Bank increased its stake in PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,195 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its stake in PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 4,819 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PG&E

In related news, 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 price of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PCG. 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. UBS Group lowered their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Barclays dropped their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Finally, BMO Capital Markets increased their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E Stock Performance

NYSE PCG opened at $16.15 on Wednesday. The company has a market capitalization of $43.13 billion, a price-to-earnings ratio of 14.04, a PEG ratio of 1.09 and a beta of 0.99. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The stock has a fifty day simple moving average of $16.99 and a 200 day simple moving average of $19.01. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last issued its quarterly earnings results 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 the consensus estimate of $7.29 billion. During the same period last year, the business posted $0.47 EPS. Sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.62%. PG&E’s payout ratio is currently 8.70%.

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.