Burkehill Global Management LP Purchases Shares of 1,000,000 PG&E Co. (NYSE:PCG)

Burkehill Global Management LP acquired a new position in shares of PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,000,000 shares of the utilities provider's stock, valued at approximately $20,180,000. PG&E makes up 1.9% of Burkehill Global Management LP's holdings, making the stock its 15th biggest holding.

A number of other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc raised 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 worth $31,000 after buying an additional 626 shares during the last quarter. UMB Bank n.a. grew its holdings in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after acquiring an additional 1,506 shares during the period. Huntington National Bank raised its position in shares of PG&E by 32.9% during the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider's stock valued at $96,000 after acquiring an additional 1,195 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after purchasing an additional 4,819 shares during the period. Finally, Sierra Ocean LLC bought a new position in shares of PG&E in the 4th quarter worth $111,000. 78.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently commented on the company. Morgan Stanley downgraded PG&E from an "equal weight" rating to an "underweight" rating and dropped their price objective for the company from $20.00 to $16.50 in a report on Friday, February 14th. Barclays cut their price target on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research report on Monday, January 27th. Mizuho boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. UBS Group lowered their target price on shares of PG&E from $24.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, PG&E presently has an average rating of "Moderate Buy" and a consensus target price of $22.23.

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PG&E Stock Performance

Shares of PG&E stock traded up $0.41 during trading on Friday, reaching $16.81. The company's stock had a trading volume of 10,604,698 shares, compared to its average volume of 15,142,646. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The firm has a market cap of $44.89 billion, a PE ratio of 14.61, a P/E/G ratio of 1.09 and a beta of 1.04. The business's 50-day moving average price is $16.43 and its 200-day moving average price is $18.88. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the previous year, the firm earned $0.47 EPS. Equities analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.60%. The ex-dividend date is Monday, March 31st. PG&E's dividend payout ratio (DPR) is presently 8.70%.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was 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 corporate insiders.

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.