Ossiam Decreases Stock Holdings in PG&E Co. (NYSE:PCG)

Ossiam lessened its stake in PG&E Co. (NYSE:PCG - Free Report) by 51.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,067 shares of the utilities provider's stock after selling 19,429 shares during the period. Ossiam's holdings in PG&E were worth $365,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PCG. Versant Capital Management Inc grew its holdings in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after acquiring an additional 626 shares during the period. UMB Bank n.a. boosted its position in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after purchasing an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. grew its stake in shares of PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after purchasing an additional 4,819 shares during the period. Sierra Ocean LLC purchased a new stake in shares of PG&E during the 4th quarter valued at about $111,000. Finally, Huntington National Bank increased its position 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 valued at $122,000 after purchasing an additional 1,205 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The stock was 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 owns 183,635 shares in the company, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris acquired 6,389 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction 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. This trade 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 company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on PCG shares. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets lowered their target price on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley lifted their price objective on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research report on Thursday, March 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of "Moderate Buy" and a consensus price target of $21.95.

PG&E Stock Performance

Shares of NYSE PCG opened at $17.46 on Wednesday. The firm's fifty day moving average is $16.56 and its two-hundred day moving average is $18.30. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a market cap of $46.64 billion, a P/E ratio of 15.18, a P/E/G ratio of 1.09 and a beta of 0.70. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG - Get Free Report) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

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

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