AIA Group Ltd Invests $1.40 Million in PG&E Co. (NYSE:PCG)

AIA Group Ltd acquired a new position in PG&E Co. (NYSE:PCG) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 77,700 shares of the utilities provider’s stock, valued at approximately $1,401,000.

Several other hedge funds have also recently made changes to their positions in the business. Raymond James Trust N.A. raised its position in shares of PG&E by 4.2% in the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 680 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of PG&E by 1.5% in the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after acquiring an additional 691 shares in the last quarter. Wetherby Asset Management Inc. raised its position in shares of PG&E by 5.5% in the 1st quarter. Wetherby Asset Management Inc. now owns 14,490 shares of the utilities provider’s stock worth $234,000 after acquiring an additional 752 shares in the last quarter. Lumbard & Kellner LLC raised its position in shares of PG&E by 3.1% in the 4th quarter. Lumbard & Kellner LLC now owns 26,003 shares of the utilities provider’s stock worth $423,000 after acquiring an additional 790 shares in the last quarter. Finally, Signaturefd LLC raised its position in shares of PG&E by 10.9% in the 3rd quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock worth $130,000 after acquiring an additional 794 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PCG. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. The Goldman Sachs Group began coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Finally, Barclays reduced their target price on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

PG&E Price Performance

PCG stock opened at $16.64 on Friday. The company has a market capitalization of $35.56 billion, a P/E ratio of 15.75 and a beta of 1.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.32. The business has a 50-day simple moving average of $16.51 and a two-hundred day simple moving average of $16.82.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. The business had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter in the previous year, the business earned $0.26 EPS. Research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

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

PG&E Company 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.