Causeway Capital Management LLC Sells 1,291,773 Shares of PG&E Co. (NYSE:PCG)

Causeway Capital Management LLC lessened its holdings in PG&E Co. (NYSE:PCG - Free Report) by 33.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,520,673 shares of the utilities provider's stock after selling 1,291,773 shares during the quarter. PG&E accounts for approximately 1.2% of Causeway Capital Management LLC's investment portfolio, making the stock its 24th biggest position. Causeway Capital Management LLC owned about 0.10% of PG&E worth $50,867,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in PCG. Versant Capital Management Inc increased its stake in PG&E by 68.3% during the 4th 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. Baker Tilly Wealth Management LLC grew its holdings in shares of PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock valued at $330,000 after buying an additional 715 shares during the last quarter. Level Four Advisory Services LLC increased its position in shares of PG&E by 7.5% during the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock valued at $223,000 after acquiring an additional 772 shares in the last quarter. Clarius Group LLC lifted its position in PG&E by 8.2% in the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider's stock valued at $223,000 after acquiring an additional 833 shares in the last quarter. Finally, Greenleaf Trust lifted its position in PG&E by 5.9% in the 4th quarter. Greenleaf Trust now owns 15,542 shares of the utilities provider's stock valued at $314,000 after acquiring an additional 872 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

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 transaction of $532,368.77. Following the completion of the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm's stock in a transaction that occurred 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 purchase, the director now owns 14,864 shares of the company's stock, valued at $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 Price Performance

NYSE:PCG traded up $0.05 during trading hours on Friday, hitting $17.23. 15,360,295 shares of the stock traded hands, compared to its average volume of 16,365,429. The stock has a 50 day moving average price of $16.51 and a 200 day moving average price of $18.35. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market cap of $46.02 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate 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 business earned $0.47 earnings per share. Sell-side analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend was Monday, March 31st. PG&E's dividend payout ratio (DPR) is presently 8.70%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Barclays lowered their price objective on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets decreased their target price on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Guggenheim downgraded PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. Finally, UBS Group cut PG&E from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $21.95.

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.