Envestnet Portfolio Solutions Inc. Increases Stock Holdings in PG&E Co. (NYSE:PCG)

Envestnet Portfolio Solutions Inc. raised its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 200.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 59,602 shares of the utilities provider's stock after purchasing an additional 39,790 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in PG&E were worth $1,203,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc boosted its holdings 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 worth $31,000 after buying an additional 626 shares during the period. UMB Bank n.a. boosted its stake in shares of 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 acquiring an additional 1,506 shares during the period. First Horizon Advisors Inc. grew its position in shares of PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC bought a new stake in PG&E during the 4th quarter valued at approximately $111,000. Finally, Brooklyn Investment Group bought a new stake in PG&E during the 3rd quarter valued at approximately $115,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PG&E

In related news, Director Arno Lockheart Harris bought 6,389 shares of the company's stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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 transaction of $532,368.77. Following the transaction, the executive vice president now directly owns 183,635 shares of the company's stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

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PG&E Trading Up 1.0 %

PCG traded up $0.18 during trading on Wednesday, hitting $17.24. 12,443,033 shares of the stock were exchanged, compared to its average volume of 24,081,064. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a 50 day simple moving average of $16.20 and a 200 day simple moving average of $18.73. The firm has a market cap of $46.04 billion, a price-to-earnings ratio of 14.99, a P/E/G ratio of 1.09 and a beta of 1.04. 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 announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E's dividend payout ratio is currently 8.70%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a report on Wednesday, November 27th. Morgan Stanley lifted their price target on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a report on Thursday, March 20th. BMO Capital Markets increased their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and cut their price objective for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $22.05.

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.