Duff & Phelps Investment Management Co. Increases Stock Holdings in PG&E Co. (NYSE:PCG)

Duff & Phelps Investment Management Co. boosted its holdings in PG&E Co. (NYSE:PCG) by 22.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 4,931,520 shares of the utilities provider’s stock after buying an additional 904,086 shares during the period. PG&E makes up 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 29th largest position. Duff & Phelps Investment Management Co.’s holdings in PG&E were worth $99,518,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Czech National Bank lifted its stake in shares of PG&E by 8.9% in 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 last quarter. New York State Teachers Retirement System grew its stake in shares of 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 worth $39,837,000 after purchasing an additional 148,860 shares during the period. State Street Corp raised its position in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in shares of PG&E in the fourth quarter valued at approximately $514,000. Finally, Atria Wealth Solutions Inc. purchased a new position in PG&E in the fourth quarter worth approximately $466,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent analyst reports. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Morgan Stanley increased their target price on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Barclays dropped their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus target price of $22.05.

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now 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. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Performance

Shares of PCG opened at $17.15 on Friday. The firm’s 50 day moving average price is $16.21 and its two-hundred day moving average price is $18.70. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market cap of $45.81 billion, a P/E ratio of 14.91, a PEG ratio of 1.09 and a beta of 1.04. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS 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 company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. On average, analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. PG&E’s dividend payout ratio (DPR) is currently 8.70%.

PG&E Company 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.