Insider Buying: PG&E Co. (NYSE:PCG) Director Purchases $100,051.74 in Stock

PG&E Co. (NYSE:PCG) Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

PG&E Price Performance

PCG opened at $15.94 on Monday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The stock has a market capitalization of $42.57 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. The company’s 50-day simple moving average is $17.50 and its two-hundred day simple moving average is $19.12. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72.

PG&E (NYSE:PCG) last issued 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 quarter in the prior year, the business earned $0.47 EPS. As a group, analysts predict 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. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Analyst Ratings Changes

A number of analysts have recently weighed in on PCG shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. UBS Group dropped their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Barclays dropped their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Finally, BMO Capital Markets upped their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

Hedge Funds Weigh In On PG&E

Institutional investors have recently made changes to their positions in the business. Versant Capital Management Inc lifted its stake in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares during the period. True Wealth Design LLC increased its holdings in PG&E by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,690 shares in the last quarter. Colonial Trust Co SC increased its holdings in PG&E by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 1,627 shares in the last quarter. UMB Bank n.a. increased its holdings in PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares in the last quarter. Finally, Blue Trust Inc. increased its holdings in PG&E by 77.7% in the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Company 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.