Keybank National Association OH Sells 239,525 Shares of PG&E Co. (NYSE:PCG)

Keybank National Association OH lowered its holdings in PG&E Co. (NYSE:PCG - Free Report) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 471,028 shares of the utilities provider's stock after selling 239,525 shares during the quarter. Keybank National Association OH's holdings in PG&E were worth $9,505,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the business. Versant Capital Management Inc boosted its stake in shares of PG&E by 68.3% in 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 during the last quarter. Commerce Bank boosted its stake in PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider's stock valued at $930,000 after acquiring an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC grew its holdings in PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock worth $330,000 after acquiring an additional 715 shares during the period. Continuum Advisory LLC raised its position in shares of PG&E by 11.4% during the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock valued at $157,000 after acquiring an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. raised its position in shares of PG&E by 2.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock valued at $624,000 after acquiring an additional 812 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

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Insider Activity at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their position. The purchase was disclosed in a document filed 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 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 transaction, the executive vice president now owns 183,635 shares in the company, valued at approximately $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. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on PCG. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. UBS Group decreased their target price on PG&E from $24.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, January 30th. BMO Capital Markets increased their price target on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a research report on Tuesday, February 18th. Barclays reduced their price objective on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Finally, Morgan Stanley downgraded shares of PG&E from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $20.00 to $16.50 in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $22.23.

PG&E Stock Down 0.7 %

NYSE:PCG traded down $0.12 during trading hours on Friday, reaching $15.97. 22,688,068 shares of the stock were exchanged, compared to its average volume of 15,105,276. The stock has a market cap of $42.65 billion, a PE ratio of 13.88, a PEG ratio of 1.09 and a beta of 1.04. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The firm has a 50 day moving average of $16.75 and a 200 day moving average of $18.96. 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 earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. On average, equities analysts expect that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's payout ratio is 8.70%.

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.