PG&E Co. (NYSE:PCG) Shares Purchased by abrdn plc

abrdn plc lifted its holdings in PG&E Co. (NYSE:PCG) by 78.1% in the fourth quarter, HoldingsChannel reports. The firm owned 899,387 shares of the utilities provider’s stock after buying an additional 394,414 shares during the quarter. abrdn plc’s holdings in PG&E were worth $16,216,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. Greenleaf Trust grew its holdings in shares of PG&E by 15.2% in the fourth quarter. Greenleaf Trust now owns 15,014 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 1,977 shares in the last quarter. Xponance Inc. grew its holdings in shares of PG&E by 26.9% in the fourth quarter. Xponance Inc. now owns 439,694 shares of the utilities provider’s stock valued at $7,928,000 after purchasing an additional 93,296 shares in the last quarter. AIA Group Ltd acquired a new position in shares of PG&E in the fourth quarter valued at approximately $1,401,000. Daiwa Securities Group Inc. lifted its stake in PG&E by 7.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 247,181 shares of the utilities provider’s stock worth $4,456,000 after acquiring an additional 16,723 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PG&E by 9.0% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock worth $16,639,000 after acquiring an additional 76,178 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday. Finally, Barclays decreased their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.89.

PG&E Stock Up 0.2 %

Shares of NYSE:PCG opened at $17.00 on Thursday. The firm has a 50 day simple moving average of $16.56 and a 200-day simple moving average of $16.88. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32. The company has a market capitalization of $36.33 billion, a PE ratio of 16.19 and a beta of 1.32. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. On average, equities analysts predict that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.24%. PG&E’s dividend payout ratio (DPR) is 3.81%.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.