Locust Wood Capital Advisers LLC Grows Stake in PG&E Co. (NYSE:PCG)

Locust Wood Capital Advisers LLC grew its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 17.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,598,535 shares of the utilities provider's stock after purchasing an additional 1,110,899 shares during the period. PG&E makes up about 5.3% of Locust Wood Capital Advisers LLC's holdings, making the stock its 3rd largest holding. Locust Wood Capital Advisers LLC owned about 0.29% of PG&E worth $153,338,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc increased its holdings 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 acquiring an additional 626 shares during the period. UMB Bank n.a. boosted its stake in shares of PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after acquiring an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. boosted its position in PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC purchased a new position in PG&E during the 4th quarter valued at about $111,000. Finally, Huntington National Bank increased its stake in shares of PG&E by 24.9% during the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock worth $122,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

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PG&E Price Performance

NYSE:PCG traded up $0.13 on Tuesday, reaching $17.19. The stock had a trading volume of 2,496,491 shares, compared to its average volume of 16,244,483. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The stock has a fifty day moving average price of $16.38 and a 200-day moving average price of $18.40. 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 capitalization of $45.92 billion, a P/E ratio of 14.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. During the same period last year, the firm earned $0.47 EPS. Research analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently announced 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. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.58%. PG&E's dividend payout ratio (DPR) is currently 8.70%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Morgan Stanley increased their target price on PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research report on Thursday, March 20th. Guggenheim lowered shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. Barclays lowered their price objective on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, BMO Capital Markets reduced their price target on PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, PG&E currently has a consensus rating of "Moderate Buy" and an average price target of $21.95.

Insider Activity at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm's stock in a transaction on 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 transaction, the executive vice president now directly owns 183,635 shares of the company's stock, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company's stock, valued at approximately $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. 0.15% of the stock is currently owned by insiders.

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.