Korea Investment CORP Has $30.30 Million Stock Position in PG&E Co. (NYSE:PCG)

Korea Investment CORP increased its stake in PG&E Co. (NYSE:PCG) by 80.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,501,330 shares of the utilities provider’s stock after buying an additional 667,584 shares during the quarter. Korea Investment CORP owned approximately 0.06% of PG&E worth $30,297,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in PG&E by 2.5% in the fourth 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 raised its holdings in shares of PG&E by 5.0% in 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 purchasing an additional 5,191,463 shares during the period. Geode Capital Management LLC lifted its stake in PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after purchasing an additional 536,914 shares during the last quarter. Wellington Management Group LLP lifted its stake in PG&E by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after purchasing an additional 1,822,835 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in PG&E by 4.1% during the third quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider’s stock worth $346,443,000 after purchasing an additional 681,369 shares during the period. 78.56% of the stock is owned by institutional investors.

PG&E Stock Performance

Shares of NYSE:PCG opened at $16.98 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The company’s 50 day moving average price is $16.21 and its two-hundred day moving average price is $18.68. The firm has a market cap of $45.35 billion, a PE ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter last year, the company earned $0.47 EPS. Equities research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

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

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCG. Morgan Stanley raised their price objective on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. BMO Capital Markets upped 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. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Finally, Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction on 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 in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E 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.