Decade Renewable Partners LP Decreases Position in PG&E Co. (NYSE:PCG)

Decade Renewable Partners LP cut its holdings in PG&E Co. (NYSE:PCG - Free Report) by 54.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 307,870 shares of the utilities provider's stock after selling 361,530 shares during the quarter. PG&E makes up approximately 3.0% of Decade Renewable Partners LP's portfolio, making the stock its 14th largest holding. Decade Renewable Partners LP's holdings in PG&E were worth $6,213,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Czech National Bank increased its position in PG&E by 8.9% during the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock worth $9,566,000 after buying an additional 38,590 shares in the last quarter. New York State Teachers Retirement System raised its stake in PG&E by 8.2% in the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock valued at $39,837,000 after purchasing an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in PG&E in the 4th quarter valued at about $514,000. Atria Wealth Solutions Inc. purchased a new position in PG&E in the 4th quarter valued at about $466,000. Finally, Merit Financial Group LLC acquired a new stake in shares of PG&E during the 4th quarter worth about $336,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at PG&E

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of PG&E 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 transaction, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares in the company, valued at $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. Insiders own 0.15% of the company's stock.

PG&E Price Performance

Shares of PCG stock opened at $17.14 on Monday. The firm has a fifty day moving average of $16.68 and a two-hundred day moving average of $18.25. The firm has a market cap of $45.79 billion, a P/E ratio of 14.90, a P/E/G 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. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.40 by ($0.07). The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. As a group, research analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. PG&E's dividend payout ratio (DPR) is 9.17%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on PCG shares. Barclays reduced 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 note on Wednesday, April 9th. Guggenheim raised their price target on PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday. BMO Capital Markets cut their price objective on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley restated an "underweight" rating on shares of PG&E in a report on Wednesday. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $21.32.

PG&E Profile

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.

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