Nisa Investment Advisors LLC Has $4.75 Million Stake in PG&E Co. (NYSE:PCG)

Posted by on Apr 24th, 2023

Nisa Investment Advisors LLC lifted its stake in shares of PG&E Co. (NYSE:PCG – Get Rating) by 3.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 292,090 shares of the utilities provider’s stock after purchasing an additional 10,528 shares during the period. Nisa Investment Advisors LLC’s holdings in PG&E were worth $4,749,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of PCG. State Street Corp lifted its position in shares of PG&E by 121.3% during the third quarter. State Street Corp now owns 86,054,530 shares of the utilities provider’s stock worth $1,075,682,000 after purchasing an additional 47,168,210 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of PG&E by 15.7% during the third quarter. Vanguard Group Inc. now owns 219,490,888 shares of the utilities provider’s stock worth $2,743,636,000 after buying an additional 29,840,608 shares during the last quarter. Gallagher Fiduciary Advisors LLC raised its stake in shares of PG&E by 107.4% during the third quarter. Gallagher Fiduciary Advisors LLC now owns 54,243,109 shares of the utilities provider’s stock worth $678,039,000 after buying an additional 28,087,050 shares during the last quarter. Ensign Peak Advisors Inc raised its stake in shares of PG&E by 829.3% during the third quarter. Ensign Peak Advisors Inc now owns 9,735,951 shares of the utilities provider’s stock worth $121,700,000 after buying an additional 8,688,233 shares during the last quarter. Finally, Capital International Investors raised its stake in shares of PG&E by 13.3% during the first quarter. Capital International Investors now owns 47,300,517 shares of the utilities provider’s stock worth $564,768,000 after buying an additional 5,534,131 shares during the last quarter. 83.63% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PCG. LADENBURG THALM/SH SH began coverage on shares of PG&E in a research note 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 target price for the company. in a research note on Tuesday, January 3rd. Credit Suisse Group upped their target price on shares of PG&E from $18.00 to $19.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Morgan Stanley upped their target price on shares of PG&E from $13.00 to $15.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Jefferies Financial Group reaffirmed a “neutral” rating and issued a $17.00 target price on shares of PG&E in a research note on Tuesday, January 3rd. Five equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $18.17.

PG&E Stock Down 0.1 %

PG&E stock opened at $16.89 on Monday. The stock has a market capitalization of $41.65 billion, a PE ratio of 20.11, a price-to-earnings-growth ratio of 5.53 and a beta of 1.13. PG&E Co. has a twelve month low of $9.64 and a twelve month high of $17.01. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 2.07. The company has a 50 day moving average of $16.10 and a 200-day moving average of $15.63.

PG&E (NYSE:PCG – Get Rating) last announced its earnings results on Thursday, February 23rd. The utilities provider reported $0.26 EPS for the quarter, missing the consensus estimate of $0.28 by ($0.02). PG&E had a return on equity of 10.55% and a net margin of 8.37%. The business had revenue of $5.37 billion for the quarter, compared to analyst estimates of $5.70 billion. During the same quarter in the previous year, the company posted $0.28 EPS. On average, equities research analysts anticipate that PG&E Co. will post 1.22 EPS for the current fiscal year.

About PG&E

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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.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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