Van ECK Associates Corp Has $71.55 Million Stake in PG&E Co. (NYSE:PCG)

Van ECK Associates Corp raised its stake in shares of PG&E Co. (NYSE:PCG) by 94.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,545,569 shares of the utilities provider’s stock after purchasing an additional 1,722,613 shares during the period. Van ECK Associates Corp owned approximately 0.14% of PG&E worth $71,549,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PCG. FMR LLC lifted its position in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares in the last quarter. State Street Corp lifted 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 worth $2,155,093,000 after buying an additional 5,191,463 shares in the last quarter. Brookfield Corp ON lifted its position in shares of PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after buying an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its position in shares of PG&E by 91.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after buying an additional 1,920,734 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PCG. Barclays dropped their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets assumed coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday. Finally, UBS Group lowered their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.36.

PG&E Trading Down 0.8 %

Shares of PCG stock opened at $15.90 on Friday. The company’s fifty day simple moving average is $18.12 and its two-hundred day simple moving average is $19.24. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The stock has a market capitalization of $41.57 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same quarter in the previous year, the business posted $0.47 EPS. As a group, analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

PG&E Company Profile

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.