Proficio Capital Partners LLC purchased a new stake in shares of PG&E Co. (NYSE:PCG - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 107,761 shares of the utilities provider's stock, valued at approximately $2,175,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of PG&E by 40.0% during the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 6,290,147 shares of the utilities provider's stock worth $126,935,000 after purchasing an additional 1,795,789 shares in the last quarter. Atria Investments Inc lifted its position in shares of PG&E by 7.0% during the fourth quarter. Atria Investments Inc now owns 43,410 shares of the utilities provider's stock worth $876,000 after purchasing an additional 2,828 shares in the last quarter. Assetmark Inc. lifted its position in shares of PG&E by 6.0% during the fourth quarter. Assetmark Inc. now owns 91,875 shares of the utilities provider's stock worth $1,854,000 after purchasing an additional 5,212 shares in the last quarter. Commerzbank Aktiengesellschaft FI lifted its position in shares of PG&E by 20.3% during the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 13,988 shares of the utilities provider's stock worth $282,000 after purchasing an additional 2,360 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of PG&E by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 12,162,026 shares of the utilities provider's stock worth $245,430,000 after purchasing an additional 602,151 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently commented on the stock. UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $22.00 to $19.00 in a research report on Wednesday. JPMorgan Chase & Co. restated an "overweight" rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Barclays dropped their price target 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. 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. Finally, BMO Capital Markets lifted their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $22.05.
Read Our Latest Stock Report on PG&E
Insider Activity
In other news, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction dated 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 acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction 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 position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.
PG&E Stock Performance
PCG stock traded down $0.30 during trading on Friday, hitting $16.91. 31,887,752 shares of the company's stock traded hands, compared to its average volume of 15,159,453. 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 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 $16.16 and a two-hundred day moving average price of $18.78. The stock has a market capitalization of $45.16 billion, a price-to-earnings ratio of 14.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.
PG&E (NYSE:PCG - Get Free Report) last released 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 firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. As a group, equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.
PG&E Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.59%. The ex-dividend date is Monday, March 31st. PG&E's dividend payout ratio (DPR) is 8.70%.
About PG&E
(
Free Report)
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.
See Also
Before you consider PG&E, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and PG&E wasn't on the list.
While PG&E currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
