PG&E Co. (NYSE:PCG) Shares Sold by AlphaQuest LLC

AlphaQuest LLC lessened its holdings in shares of PG&E Co. (NYSE:PCG) by 46.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,510 shares of the utilities provider’s stock after selling 7,422 shares during the period. AlphaQuest LLC’s holdings in PG&E were worth $172,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCG. Apollon Wealth Management LLC acquired a new position in PG&E during the third quarter worth $203,000. Victory Capital Management Inc. grew its holdings in PG&E by 3.2% during the third quarter. Victory Capital Management Inc. now owns 803,682 shares of the utilities provider’s stock worth $15,889,000 after acquiring an additional 24,973 shares during the period. KBC Group NV grew its holdings in PG&E by 199.2% during the third quarter. KBC Group NV now owns 432,563 shares of the utilities provider’s stock worth $8,552,000 after acquiring an additional 287,975 shares during the period. Huntington National Bank grew its holdings in PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares during the period. Finally, OneDigital Investment Advisors LLC acquired a new position in PG&E during the third quarter worth $292,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

PCG has been the topic of several research reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Barclays lowered their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. UBS Group lowered their target price on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $20.00 to $16.50 in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average target price of $22.23.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction dated 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 purchase, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

PG&E Stock Performance

NYSE PCG opened at $16.81 on Monday. The business’s 50-day moving average price is $16.36 and its 200 day moving average price is $18.87. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a market capitalization of $44.89 billion, a PE ratio of 14.61, 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 (NYSE:PCG) last released its earnings results 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 return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the business 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.60%. PG&E’s dividend payout ratio (DPR) is presently 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.