PG&E Co. (NYSE:PCG) Shares Sold by Headlands Technologies LLC

Headlands Technologies LLC trimmed its holdings in PG&E Co. (NYSE:PCG - Free Report) by 92.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,620 shares of the utilities provider's stock after selling 32,009 shares during the period. Headlands Technologies LLC's holdings in PG&E were worth $53,000 as of its most recent SEC filing.

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

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, 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 currently owned by insiders.

Remove Ads

Wall Street Analysts Forecast Growth

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

PG&E Stock Performance

Shares of PCG stock traded up $0.46 during trading hours on Friday, reaching $16.93. The stock had a trading volume of 13,590,720 shares, compared to its average volume of 16,325,781. The firm has a market capitalization of $45.21 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The firm has a 50-day simple moving average of $16.35 and a 200-day simple moving average of $18.43. PG&E Co. has a twelve month low of $14.99 and a twelve month 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 posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting 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 net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

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

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.