PG&E Co. (NYSE:PCG) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC grew its holdings in PG&E Co. (NYSE:PCG - Free Report) by 4.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 414,322 shares of the utilities provider's stock after acquiring an additional 15,980 shares during the period. Townsquare Capital LLC's holdings in PG&E were worth $8,361,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PCG. Versant Capital Management Inc raised its position in PG&E by 68.3% in the fourth 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 period. UMB Bank n.a. raised its holdings 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 valued at $80,000 after buying an additional 1,506 shares during the period. First Horizon Advisors Inc. lifted its position in PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after acquiring an additional 4,819 shares in the last quarter. Sierra Ocean LLC purchased a new position in PG&E in the 4th quarter worth approximately $111,000. Finally, Huntington National Bank boosted its holdings in PG&E by 24.9% in the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock worth $122,000 after acquiring an additional 1,205 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. BMO Capital Markets dropped their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Morgan Stanley lifted their price target on shares of PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. Finally, Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, PG&E currently has an average rating of "Moderate Buy" and an average target price of $21.95.

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PG&E Stock Performance

PCG stock traded up $0.10 during trading on Tuesday, hitting $17.16. 11,010,696 shares of the company's stock traded hands, compared to its average volume of 16,289,918. The stock has a market capitalization of $45.83 billion, a price-to-earnings ratio of 14.92, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The stock has a fifty day moving average price of $16.41 and a two-hundred day moving average price of $18.39. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts' consensus estimates 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 the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. As a group, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors 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 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's dividend payout ratio (DPR) is 8.70%.

Insider Activity at PG&E

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost 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 in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred on 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 directly owns 183,635 shares of the company's stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company's stock.

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.