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

Headlands Technologies LLC grew its stake in shares of PG&E Co. (NYSE:PCG) by 1,041.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,290 shares of the utilities provider’s stock after acquiring an additional 30,374 shares during the quarter. Headlands Technologies LLC’s holdings in PG&E were worth $600,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. First Trust Direct Indexing L.P. increased its holdings in PG&E by 13.8% in the 3rd 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 in the last quarter. Artemis Investment Management LLP increased its holdings in PG&E by 6.2% in the 4th 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PG&E by 9.0% in the 4th 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 in the last quarter. LPL Financial LLC increased its holdings in PG&E by 8.9% in the 3rd 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 in the last quarter. Finally, Mackenzie Financial Corp increased its holdings in PG&E by 78.7% in the 3rd 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 in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

PG&E Stock Down 0.2 %

Shares of PCG traded down $0.04 during midday trading on Friday, reaching $17.03. 13,459,180 shares of the stock were exchanged, compared to its average volume of 11,163,894. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.32. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04. The company’s 50 day moving average is $16.58 and its two-hundred day moving average is $16.89. The company has a market capitalization of $36.39 billion, a P/E ratio of 15.21 and a beta of 1.32.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share 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 for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter last year, the company earned $0.29 earnings per share. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. On average, sell-side analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

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