Headlands Technologies LLC Acquires 30,374 Shares of PG&E Co. (NYSE:PCG)

Headlands Technologies LLC grew its holdings in PG&E Co. (NYSE:PCG) by 1,041.6% in the 4th quarter, Holdings Channel reports. The fund owned 33,290 shares of the utilities provider’s stock after purchasing an additional 30,374 shares during the quarter. Headlands Technologies LLC’s holdings in PG&E were worth $600,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PCG. First Trust Direct Indexing L.P. boosted its position in shares of PG&E by 13.8% during the third quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock worth $438,000 after buying an additional 3,299 shares during the period. Artemis Investment Management LLP boosted its position in shares of PG&E by 6.2% during the fourth quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock worth $137,009,000 after buying an additional 446,848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of PG&E by 9.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock worth $16,639,000 after buying an additional 76,178 shares during the period. LPL Financial LLC boosted its position in shares of PG&E by 8.9% during the third quarter. LPL Financial LLC now owns 1,987,389 shares of the utilities provider’s stock worth $32,057,000 after buying an additional 162,476 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of PG&E by 78.7% during the third quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock worth $10,036,000 after buying an additional 288,280 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PCG. JPMorgan Chase & Co. upped their price objective on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. The Goldman Sachs Group began coverage on PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target for the company. Finally, Barclays increased their price target on PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research report on Friday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $19.11.

PG&E Stock Performance

Shares of PCG traded down $0.04 during mid-day trading on Friday, reaching $17.03. The company’s stock had a trading volume of 13,459,180 shares, compared to its average volume of 11,163,894. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.32. The stock has a market cap of $36.39 billion, a P/E ratio of 15.21 and a beta of 1.32. The business has a 50-day simple moving average of $16.58 and a two-hundred day simple moving average of $16.89. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. PG&E had a return on equity of 11.48% and a net margin of 10.05%. The company had revenue of $5.86 billion during the quarter, compared to analysts’ expectations of $6.60 billion. During the same period last year, the firm posted $0.29 earnings per share. The business’s revenue was down 5.6% on a year-over-year basis. As a group, equities research analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. PG&E’s dividend payout ratio (DPR) is currently 3.57%.

About PG&E

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.