NewEdge Advisors LLC Purchases 15,535 Shares of PG&E Co. (NYSE:PCG)

NewEdge Advisors LLC lifted its stake in PG&E Co. (NYSE:PCG - Free Report) by 8.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 201,369 shares of the utilities provider's stock after acquiring an additional 15,535 shares during the period. NewEdge Advisors LLC's holdings in PG&E were worth $4,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Barclays PLC lifted its position in PG&E by 8.0% in the third quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider's stock worth $112,541,000 after purchasing an additional 420,133 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of PG&E in the third quarter valued at $349,000. Tidal Investments LLC boosted its stake in PG&E by 4.7% during the third quarter. Tidal Investments LLC now owns 55,938 shares of the utilities provider's stock valued at $1,106,000 after buying an additional 2,527 shares in the last quarter. Franklin Resources Inc. grew its holdings in PG&E by 4.1% during the third quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider's stock worth $346,443,000 after acquiring an additional 681,369 shares during the period. Finally, Principal Financial Group Inc. raised its position in PG&E by 6.6% in the third quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider's stock worth $53,816,000 after acquiring an additional 169,503 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insider Transactions at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction 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 represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction that occurred on 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 purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company's stock.

PG&E Stock Up 0.8 %

NYSE:PCG traded up $0.14 on Wednesday, hitting $17.58. 16,080,946 shares of the company's stock traded hands, compared to its average volume of 16,401,013. The firm has a 50-day moving average price of $16.56 and a 200-day moving average price of $18.30. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a market cap of $46.96 billion, a PE ratio of 15.29, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates 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 business earned $0.47 EPS. Equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.025 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.57%. PG&E's dividend payout ratio (DPR) is currently 8.70%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. Jefferies Financial Group raised their price objective on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and cut their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, BMO Capital Markets decreased 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, April 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight 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 a consensus target price of $21.75.

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.