Nomura Asset Management Co. Ltd. Buys 4,581 Shares of PG&E Co. (NYSE:PCG)

Nomura Asset Management Co. Ltd. boosted its stake in PG&E Co. (NYSE:PCG) by 0.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 604,836 shares of the utilities provider’s stock after purchasing an additional 4,581 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in PG&E were worth $12,206,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PCG. Norges Bank purchased a new stake in shares of PG&E in the fourth quarter worth about $591,625,000. Vanguard Group Inc. boosted its position in shares of PG&E by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after acquiring an additional 6,151,233 shares during the last quarter. State Street Corp boosted 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 valued at $2,155,093,000 after acquiring an additional 5,191,463 shares during the last quarter. Brookfield Corp ON grew its holdings in shares of PG&E by 45.6% in the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after purchasing an additional 3,958,495 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in PG&E by 244.5% in the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock worth $95,066,000 after purchasing an additional 3,340,599 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 1.0 %

PCG stock opened at $16.98 on Monday. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The firm’s 50-day moving average is $16.21 and its 200 day moving average is $18.67. The company has a market capitalization of $45.35 billion, a PE ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG) last issued its 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 net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the firm earned $0.47 EPS. On average, research analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is 8.70%.

Wall Street Analyst Weigh In

A number of brokerages have commented on PCG. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, BMO Capital Markets increased their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were 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 of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This 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.

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.