Goldman Sachs Group Inc. Has $113.85 Million Stock Holdings in PG&E Co. (NYSE:PCG)

Goldman Sachs Group Inc. lifted its holdings in shares of PG&E Co. (NYSE:PCGFree Report) by 534.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,314,611 shares of the utilities provider’s stock after buying an additional 5,319,289 shares during the period. Goldman Sachs Group Inc. owned about 0.24% of PG&E worth $113,852,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of PG&E by 8.8% in the 3rd quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider’s stock valued at $4,329,416,000 after purchasing an additional 21,731,911 shares during the period. FMR LLC raised its holdings in shares of PG&E by 2.4% in the 3rd quarter. FMR LLC now owns 176,029,931 shares of the utilities provider’s stock valued at $2,839,363,000 after purchasing an additional 4,044,631 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in shares of PG&E by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 84,516,243 shares of the utilities provider’s stock valued at $1,523,828,000 after purchasing an additional 993,923 shares during the period. Third Point LLC raised its holdings in shares of PG&E by 5.3% in the 3rd quarter. Third Point LLC now owns 56,860,000 shares of the utilities provider’s stock valued at $917,152,000 after purchasing an additional 2,860,000 shares during the period. Finally, Norges Bank bought a new stake in shares of PG&E in the 4th quarter valued at about $394,285,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Down 0.9 %

Shares of PCG opened at $18.05 on Monday. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.95. The firm’s 50 day moving average is $17.54 and its 200-day moving average is $17.21. The stock has a market capitalization of $51.97 billion, a PE ratio of 16.12 and a beta of 1.19. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCGGet Free Report) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the firm earned $0.29 earnings per share. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. Equities research analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given 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 dividend yield of 0.22%. PG&E’s dividend payout ratio is 3.57%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Barclays increased their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Wednesday, June 5th. Morgan Stanley increased 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. Mizuho increased their price target on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $19.88.

Get Our Latest Stock Analysis on PCG

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by company insiders.

PG&E 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.

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

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