PG&E Co. (NYSE:PCG) Shares Acquired by TD Asset Management Inc

TD Asset Management Inc lifted its position in shares of PG&E Co. (NYSE:PCGFree Report) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 782,005 shares of the utilities provider’s stock after purchasing an additional 68,963 shares during the period. TD Asset Management Inc’s holdings in PG&E were worth $14,100,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Planned Solutions Inc. acquired a new position in shares of PG&E during the fourth quarter worth $37,000. CVA Family Office LLC acquired a new stake in PG&E in the fourth quarter valued at $43,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in PG&E in the fourth quarter valued at $47,000. Catalyst Capital Advisors LLC acquired a new stake in PG&E in the third quarter valued at $44,000. Finally, Headlands Technologies LLC acquired a new stake in PG&E in the third quarter valued at $47,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. Morgan Stanley upped their price target on shares of PG&E from $16.00 to $18.00 and gave the company an “equal weight” rating in a report on Tuesday, May 28th. JPMorgan Chase & Co. boosted their target price on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Barclays boosted their target price on shares of PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. Mizuho boosted their target price on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Finally, The Goldman Sachs Group initiated coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Read Our Latest Analysis on PCG

PG&E Stock Down 1.6 %

PCG stock opened at $18.24 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.95. The firm’s 50-day simple moving average is $17.41 and its 200 day simple moving average is $17.20. The stock has a market cap of $52.52 billion, a PE ratio of 16.29 and a beta of 1.19.

PG&E (NYSE:PCGGet Free Report) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.29 EPS. As a group, sell-side analysts predict that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.22%. PG&E’s payout ratio is 3.57%.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.15% of the stock is owned by corporate insiders.

PG&E Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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