Potentia Wealth Buys Shares of 59,533 PG&E Co. (NYSE:PCG)

Potentia Wealth acquired a new position in shares of PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 59,533 shares of the utilities provider's stock, valued at approximately $1,201,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Czech National Bank increased its stake in PG&E by 8.9% in the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock valued at $9,566,000 after buying an additional 38,590 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of PG&E by 8.2% in the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock valued at $39,837,000 after acquiring an additional 148,860 shares in the last quarter. State Street Corp increased its position in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after acquiring an additional 5,191,463 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in PG&E during the fourth quarter worth about $514,000. Finally, Atria Wealth Solutions Inc. bought a new position in PG&E in the fourth quarter valued at approximately $466,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCG. Guggenheim cut PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. BMO Capital Markets upped their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a research report on Tuesday, February 18th. Morgan Stanley increased their price target on shares of PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. restated an "overweight" rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Finally, Barclays cut their target price on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $22.05.

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PG&E Stock Performance

Shares of NYSE:PCG traded down $0.18 during trading on Friday, reaching $16.98. 15,065,056 shares of the stock were exchanged, compared to its average volume of 15,885,936. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The stock has a 50-day moving average price of $16.21 and a 200-day moving average price of $18.68. 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 firm has a market cap of $45.35 billion, a PE ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04.

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

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. PG&E's dividend payout ratio (DPR) is presently 8.70%.

Insider Buying and Selling

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

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.