Pallas Capital Advisors LLC Makes New $276,000 Investment in PG&E Co. (NYSE:PCG)

Pallas Capital Advisors LLC bought a new stake in PG&E Co. (NYSE:PCG) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 13,360 shares of the utilities provider’s stock, valued at approximately $276,000.

Several other large investors have also modified their holdings of the stock. Jupiter Asset Management Ltd. bought a new stake in PG&E during the first quarter valued at $2,153,000. Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in PG&E by 19.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock worth $41,667,000 after acquiring an additional 410,409 shares during the last quarter. Bayesian Capital Management LP acquired a new position in PG&E in the first quarter valued at approximately $2,377,000. Scientech Research LLC acquired a new position in PG&E in the second quarter valued at approximately $1,122,000. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of PG&E by 808.5% during the second quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock valued at $21,703,000 after purchasing an additional 1,106,200 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

PG&E Trading Down 0.9 %

PG&E stock opened at $20.04 on Friday. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $20.93. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The stock has a market capitalization of $52.41 billion, a PE ratio of 17.29, a price-to-earnings-growth ratio of 1.54 and a beta of 1.01. The firm has a 50 day simple moving average of $19.90 and a 200-day simple moving average of $18.58.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.42%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on PCG shares. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Barclays boosted their price target on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Jefferies Financial Group started coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Morgan Stanley upped their target price 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 lifted their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E 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.