Nomura Asset Management Co. Ltd. Raises Stock Position in PG&E Co. (NYSE:PCG)

Nomura Asset Management Co. Ltd. boosted its position in shares of PG&E Co. (NYSE:PCG) by 0.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 604,836 shares of the utilities provider’s stock after acquiring an additional 4,581 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in PG&E were worth $12,206,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of PCG. Versant Capital Management Inc increased its position in shares of 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 in the last quarter. UMB Bank n.a. increased its position in PG&E by 61.5% during 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. First Horizon Advisors Inc. raised 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 buying an additional 4,819 shares during the last quarter. Sierra Ocean LLC acquired a new stake in PG&E in the fourth quarter worth about $111,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of PG&E by 32.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock worth $126,000 after acquiring an additional 1,526 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Trading Down 1.0 %

Shares of NYSE:PCG opened at $16.98 on Monday. 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 12-month low of $14.99 and a 12-month high of $21.72. The business has a 50 day moving average of $16.21 and a two-hundred day moving average of $18.67. The company has a market capitalization of $45.35 billion, a PE ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04.

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

PG&E Announces Dividend

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

Insider Activity at PG&E

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction on 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 owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Morgan Stanley lifted their price objective on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Barclays cut their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Finally, BMO Capital Markets increased their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

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.