Greenland Capital Management LP Trims Position in PG&E Co. (NYSE:PCG)

Greenland Capital Management LP lessened its position in PG&E Co. (NYSE:PCG - Free Report) by 46.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 89,826 shares of the utilities provider's stock after selling 77,334 shares during the period. Greenland Capital Management LP's holdings in PG&E were worth $1,813,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc grew its position in 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 purchasing an additional 626 shares during the period. Baker Tilly Wealth Management LLC lifted its stake in shares of PG&E by 4.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock valued at $330,000 after buying an additional 715 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of PG&E by 11.4% in the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider's stock valued at $157,000 after buying an additional 769 shares in the last quarter. Level Four Advisory Services LLC grew its holdings in shares of PG&E by 7.5% during the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock valued at $223,000 after buying an additional 772 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of PG&E by 2.6% during the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock worth $624,000 after acquiring an additional 812 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

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Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 183,635 shares of the company's stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.15% of the company's stock.

PG&E Stock Performance

Shares of NYSE PCG traded up $0.46 during mid-day trading on Friday, reaching $16.93. 13,590,720 shares of the company's stock were exchanged, compared to its average volume of 16,310,099. The firm has a market capitalization of $45.21 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The firm has a 50-day moving average price of $16.35 and a two-hundred day moving average price of $18.42. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate 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 for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the firm posted $0.47 earnings per share. Analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The company also recently disclosed 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. This represents a $0.10 annualized dividend and a yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E's dividend payout ratio (DPR) is 8.70%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and dropped their price target for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim lowered PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a report on Tuesday, February 18th. Barclays lowered their price target on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.05.

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.