Proficio Capital Partners LLC Acquires Shares of 107,761 PG&E Co. (NYSE:PCG)

Proficio Capital Partners LLC purchased a new position in PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 107,761 shares of the utilities provider's stock, valued at approximately $2,175,000.

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc raised its position in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after buying an additional 626 shares in the last quarter. UMB Bank n.a. raised its position 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 in the last quarter. Catalyst Capital Advisors LLC raised its position in shares of PG&E by 98.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider's stock valued at $86,000 after buying an additional 2,154 shares in the last quarter. Huntington National Bank raised its position in shares of PG&E by 32.9% during the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider's stock valued at $96,000 after buying an additional 1,195 shares in the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after buying an additional 4,819 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

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PG&E Stock Down 0.7 %

PCG traded down $0.12 during trading on Friday, hitting $15.97. The stock had a trading volume of 22,688,068 shares, compared to its average volume of 15,105,276. The stock has a 50 day simple moving average of $16.75 and a two-hundred day simple moving average of $18.96. The company has a market capitalization of $42.65 billion, a PE ratio of 13.88, a PEG ratio of 1.09 and a beta of 1.04. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.31. The business had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter last year, the company posted $0.47 earnings per share. On average, research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

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 issued a $0.025 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.63%. PG&E's dividend payout ratio is currently 8.70%.

Insiders Place Their Bets

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm'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 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 trade represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The shares were acquired 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 of the company's stock, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets increased their price objective 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. UBS Group reduced their price objective on shares of PG&E from $24.00 to $22.00 and set a "buy" rating on the stock in a research report on Thursday, January 30th. Guggenheim lowered shares of PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. Morgan Stanley lowered shares of PG&E from an "equal weight" rating to an "underweight" rating and reduced their price objective for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company's stock. According to data from MarketBeat.com, PG&E has an average rating of "Moderate Buy" and an average target price of $22.23.

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.