Hartree Partners LP Invests $2.02 Million in PG&E Co. (NYSE:PCG)

Hartree Partners LP bought a new stake in shares of PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 100,000 shares of the utilities provider's stock, valued at approximately $2,018,000. PG&E accounts for approximately 0.8% of Hartree Partners LP's investment portfolio, making the stock its 29th biggest position.

Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its holdings in shares of PG&E by 3.9% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,475,700 shares of the utilities provider's stock valued at $29,175,000 after acquiring an additional 55,236 shares during the last quarter. Glenmede Trust Co. NA boosted its stake in shares of PG&E by 15.9% during the third quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider's stock valued at $415,000 after purchasing an additional 2,878 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in PG&E by 13.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,572,325 shares of the utilities provider's stock worth $307,865,000 after purchasing an additional 1,867,690 shares in the last quarter. Vinva Investment Management Ltd raised its holdings in shares of PG&E by 143.5% in the third quarter. Vinva Investment Management Ltd now owns 45,625 shares of the utilities provider's stock valued at $904,000 after acquiring an additional 26,887 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its holdings in PG&E by 3.5% in the third quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider's stock worth $544,000 after purchasing an additional 928 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCG has been the topic of several recent analyst reports. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Morgan Stanley upped their price target on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a report on Thursday, March 20th. Barclays decreased their price target on PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a report on Monday, January 27th. UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, PG&E has an average rating of "Moderate Buy" and a consensus target price of $22.05.

PG&E Price Performance

Shares of NYSE:PCG traded up $0.02 during midday trading on Thursday, hitting $17.45. The company had a trading volume of 9,683,567 shares, compared to its average volume of 23,291,355. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The stock has a market cap of $46.61 billion, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The business's 50-day simple moving average is $16.23 and its 200-day simple moving average is $18.63.

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 (EPS) for the quarter, meeting analysts' consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.57%. The ex-dividend date is Monday, March 31st. PG&E's dividend payout ratio (DPR) is presently 8.70%.

Insider Activity

In related news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, 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 acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were 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. The trade was a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

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.