DekaBank Deutsche Girozentrale Has $2.84 Million Stock Holdings in PG&E Co. (NYSE:PCG)

Posted by Defense World Staff on Apr 21st, 2023

DekaBank Deutsche Girozentrale boosted its stake in PG&E Co. (NYSE:PCG – Get Rating) by 150.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 175,614 shares of the utilities provider’s stock after buying an additional 105,609 shares during the period. DekaBank Deutsche Girozentrale’s holdings in PG&E were worth $2,839,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PCG. Coastal Investment Advisors Inc. increased its position in PG&E by 1.2% during the third quarter. Coastal Investment Advisors Inc. now owns 60,803 shares of the utilities provider’s stock worth $760,000 after acquiring an additional 692 shares during the period. Global Retirement Partners LLC increased its holdings in shares of PG&E by 11.0% during the third quarter. Global Retirement Partners LLC now owns 7,242 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 718 shares during the period. Lindbrook Capital LLC raised its position in shares of PG&E by 5.4% in the fourth quarter. Lindbrook Capital LLC now owns 14,723 shares of the utilities provider’s stock valued at $239,000 after buying an additional 758 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of PG&E by 3.4% in the third quarter. IFP Advisors Inc now owns 24,495 shares of the utilities provider’s stock valued at $1,026,000 after buying an additional 800 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its position in PG&E by 0.9% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 111,398 shares of the utilities provider’s stock worth $1,811,000 after buying an additional 1,006 shares in the last quarter. 83.63% of the stock is owned by institutional investors.

PG&E Stock Up 0.1 %

Shares of PCG opened at $16.91 on Friday. The company has a debt-to-equity ratio of 2.07, a quick ratio of 0.76 and a current ratio of 0.81. PG&E Co. has a 52 week low of $9.64 and a 52 week high of $17.01. The stock has a market capitalization of $41.70 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 5.55 and a beta of 1.13. The stock has a fifty day moving average of $16.07 and a 200-day moving average of $15.59.

PG&E (NYSE:PCG – Get Rating) last released its quarterly earnings results on Thursday, February 23rd. The utilities provider reported $0.26 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.02). The firm had revenue of $5.37 billion for the quarter, compared to the consensus estimate of $5.70 billion. PG&E had a return on equity of 10.55% and a net margin of 8.37%. During the same quarter last year, the firm posted $0.28 earnings per share. As a group, sell-side analysts anticipate that PG&E Co. will post 1.21 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PCG has been the subject of a number of recent analyst reports. Morgan Stanley upped their target price on PG&E from $13.00 to $15.00 and gave the company an “equal weight” rating in a research report on Thursday. StockNews.com initiated coverage on shares of PG&E in a report on Thursday, March 16th. They issued a “hold” rating on the stock. LADENBURG THALM/SH SH assumed coverage on shares of PG&E in a report on Monday, April 3rd. They set a “buy” rating and a $20.50 price target for the company. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and set a $17.00 price objective for the company. in a research report on Tuesday, January 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $20.00 target price on shares of PG&E in a report on Friday, March 10th. Five investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $18.17.

Insider Buying and Selling at PG&E

In related news, CEO Patricia K. Poppe sold 66,700 shares of the business’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $15.87, for a total value of $1,058,529.00. Following the sale, the chief executive officer now owns 1,269,325 shares of the company’s stock, valued at $20,144,187.75. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.06% of the company’s stock.

PG&E Profile

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PG&E Corp. is 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.