Korea Investment CORP Has $30.30 Million Holdings in PG&E Co. (NYSE:PCG)

Korea Investment CORP lifted its position in shares of PG&E Co. (NYSE:PCG) by 80.1% during the 4th quarter, HoldingsChannel reports. The fund owned 1,501,330 shares of the utilities provider’s stock after purchasing an additional 667,584 shares during the period. Korea Investment CORP’s holdings in PG&E were worth $30,297,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of PCG. Versant Capital Management Inc boosted its stake in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares in the last quarter. UMB Bank n.a. raised its holdings in PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. boosted its position in PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,819 shares during the period. Sierra Ocean LLC bought a new stake in PG&E during the 4th quarter worth approximately $111,000. Finally, Exchange Traded Concepts LLC increased its position in PG&E by 32.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,526 shares during the period. Institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Barclays decreased their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average target price of $22.05.

Insider Buying and Selling

In other news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of the company’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

PG&E Trading Down 1.0 %

NYSE:PCG opened at $16.98 on Friday. The firm has a fifty day simple moving average of $16.21 and a two-hundred day simple moving average of $18.68. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The stock has a market capitalization of $45.35 billion, a price-to-earnings ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the business posted $0.47 EPS. Analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is 8.70%.

About PG&E

PG&E Corp. operates as 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.