Orion Portfolio Solutions LLC Has $285,000 Stock Position in PG&E Co. (NYSE:PCG)

Orion Portfolio Solutions LLC increased its stake in shares of PG&E Co. (NYSE:PCG) by 9.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 14,418 shares of the utilities provider’s stock after acquiring an additional 1,232 shares during the period. Orion Portfolio Solutions LLC’s holdings in PG&E were worth $285,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of PCG. King Street Capital Management L.P. acquired a new stake in shares of PG&E in the 2nd quarter valued at approximately $1,964,250,000. Massachusetts Financial Services Co. MA lifted its stake in PG&E by 17.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after acquiring an additional 14,998,472 shares during the last quarter. FMR LLC grew its position in shares of PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after acquiring an additional 8,604,396 shares during the period. State Street Corp increased its stake in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Finally, Brookfield Corp ON raised its holdings in shares of PG&E by 45.6% in the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after purchasing an additional 3,958,495 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Trading Up 1.1 %

PCG stock opened at $19.42 on Friday. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.72. The company has a market capitalization of $50.79 billion, a PE ratio of 15.17, a price-to-earnings-growth ratio of 1.51 and a beta of 1.01. The company’s 50-day simple moving average is $20.51 and its 200 day simple moving average is $19.28. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the previous year, the firm posted $0.24 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, sell-side analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Tuesday, December 31st. This is a positive change from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio (DPR) is 7.81%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Bank of America initiated coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target for the company. Mizuho lifted their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays dropped their price target on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday. Morgan Stanley lifted their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, UBS Group dropped their price objective on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a research report on Thursday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.15% of the company’s stock.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.