AIA Group Ltd Purchases New Position in PG&E Co. (NYSE:PCG)

AIA Group Ltd purchased a new stake in shares of PG&E Co. (NYSE:PCG) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 77,700 shares of the utilities provider’s stock, valued at approximately $1,401,000.

Several other institutional investors have also recently added to or reduced their stakes in the company. Clear Street Markets LLC acquired a new stake in PG&E in the 4th quarter valued at about $26,000. Quarry LP acquired a new stake in PG&E in the 2nd quarter valued at about $34,000. Planned Solutions Inc. acquired a new stake in PG&E in the 4th quarter valued at about $37,000. Toth Financial Advisory Corp acquired a new stake in PG&E in the 3rd quarter valued at about $35,000. Finally, CVA Family Office LLC acquired a new stake in PG&E in the 4th quarter valued at about $43,000. 78.56% of the stock is owned by institutional investors.

PG&E Stock Up 0.6 %

PG&E stock opened at $16.64 on Friday. The company’s 50 day simple moving average is $16.51 and its 200 day simple moving average is $16.82. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The firm has a market capitalization of $35.56 billion, a price-to-earnings ratio of 15.75 and a beta of 1.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter last year, the firm earned $0.26 EPS. As a group, sell-side analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s payout ratio is 3.81%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCG shares. The Goldman Sachs Group started coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective for the company. Barclays lowered their price objective on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. Finally, StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.78.

PG&E Profile

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.