PG&E Co. (NYSE:PCG) Shares Purchased by Duff & Phelps Investment Management Co.

Duff & Phelps Investment Management Co. raised its stake in PG&E Co. (NYSE:PCG) by 22.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,931,520 shares of the utilities provider’s stock after buying an additional 904,086 shares during the quarter. PG&E makes up approximately 1.2% of Duff & Phelps Investment Management Co.’s investment portfolio, making the stock its 29th largest position. Duff & Phelps Investment Management Co. owned about 0.19% of PG&E worth $99,518,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Versant Capital Management Inc lifted its holdings in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares during the last quarter. UMB Bank n.a. grew its position in shares of PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC acquired a new stake in PG&E during the 4th quarter valued at $111,000. Finally, Brooklyn Investment Group bought a new stake in shares of PG&E in the 3rd quarter worth about $115,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of several research reports. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets increased their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price target on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. Finally, Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average target price of $22.05.

PG&E Price Performance

PCG opened at $17.15 on Friday. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The stock has a fifty day moving average of $16.21 and a 200-day moving average of $18.70. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $45.81 billion, a P/E ratio of 14.91, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $7.29 billion. During the same period in the previous year, the business earned $0.47 EPS. Equities analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $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 currently owned by company insiders.

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.