McElhenny Sheffield Capital Management LLC Takes $514,000 Position in PG&E Co. (NYSE:PCG)

McElhenny Sheffield Capital Management LLC purchased a new stake in PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 25,456 shares of the utilities provider's stock, valued at approximately $514,000.

A number of other hedge funds have also added to or reduced their stakes in PCG. Versant Capital Management Inc boosted its stake in shares of PG&E by 68.3% during 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 in the last quarter. Commerce Bank lifted its holdings in PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider's stock worth $930,000 after buying an additional 712 shares during the period. Baker Tilly Wealth Management LLC grew its holdings in shares of 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% in the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock worth $157,000 after acquiring an additional 769 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in shares of PG&E by 2.6% in the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock valued at $624,000 after purchasing an additional 812 shares during the period. 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 research reports. Mizuho upped their price target on PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Morgan Stanley increased their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an "equal weight" rating in a research note on Wednesday, September 25th. Barclays dropped their price objective on shares of PG&E from $25.00 to $24.00 and set an "overweight" rating on the stock in a research note on Tuesday, December 17th. UBS Group decreased their target price on shares of PG&E from $26.00 to $24.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They set a "buy" rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and an average price target of $22.64.

PG&E Stock Performance

Shares of PCG traded up $0.07 during trading hours on Friday, hitting $17.02. The stock had a trading volume of 25,721,458 shares, compared to its average volume of 12,319,955. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.72. The stock has a fifty day moving average price of $19.99 and a 200 day moving average price of $19.48. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. The firm has a market capitalization of $44.51 billion, a PE ratio of 13.30, a PEG ratio of 1.20 and a beta of 0.98.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the firm posted $0.24 earnings per share. The firm's revenue was up .9% compared to the same quarter last year. Analysts anticipate that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. This is a positive change from PG&E's previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, December 31st. PG&E's dividend payout ratio is 7.81%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.15% of the stock is owned by insiders.

PG&E Company 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.