SCP Investment LP Makes New $783,000 Investment in PG&E Co. (NYSE:PCG)

SCP Investment LP acquired a new stake in shares of PG&E Co. (NYSE:PCG - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 38,800 shares of the utilities provider's stock, valued at approximately $783,000. PG&E accounts for about 0.6% of SCP Investment LP's investment portfolio, making the stock its 22nd biggest holding.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock valued at $5,132,964,000 after purchasing an additional 6,151,233 shares during the period. State Street Corp increased its position in PG&E by 5.0% in the 3rd 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 period. Geode Capital Management LLC raised its stake in PG&E by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider's stock valued at $981,960,000 after acquiring an additional 536,914 shares in the last quarter. Wellington Management Group LLP boosted its position in PG&E by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider's stock worth $598,142,000 after acquiring an additional 1,822,835 shares during the period. Finally, Norges Bank bought a new position in shares of PG&E in the fourth quarter worth $591,625,000. 78.56% of the stock is currently owned by institutional investors.

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Insiders Place Their Bets

In related news, Director Arno Lockheart Harris bought 6,389 shares of the business's stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares of the company's stock, valued at approximately $3,006,104.95. The trade was 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.

Wall Street Analyst Weigh In

A number of research firms have commented on PCG. Guggenheim downgraded shares of PG&E from a "buy" rating to a "neutral" rating in a research report on Tuesday, February 18th. Barclays decreased their price target on 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 boosted their price objective on PG&E from $16.50 to $17.50 and gave the stock an "underweight" rating in a research note on Thursday, March 20th. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. One equities 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.05.

PG&E Trading Up 0.1 %

Shares of PCG traded up $0.02 during midday trading on Thursday, hitting $17.45. The stock had a trading volume of 9,683,567 shares, compared to its average volume of 15,915,220. The business has a 50-day simple moving average of $16.23 and a two-hundred day simple moving average of $18.63. The firm has a market cap of $46.61 billion, a P/E ratio of 15.17, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share 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 firm had revenue of $6.63 billion for the quarter, compared to analysts' expectations of $7.29 billion. During the same period in the previous year, the company posted $0.47 EPS. As a group, equities analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently disclosed 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. This represents a $0.10 annualized dividend and a yield of 0.57%. The ex-dividend date is Monday, March 31st. PG&E's dividend payout ratio is currently 8.70%.

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.