PG&E Co. (NYSE:PCG) Shares Bought by NEOS Investment Management LLC

NEOS Investment Management LLC grew its position in PG&E Co. (NYSE:PCG) by 31.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,599 shares of the utilities provider’s stock after purchasing an additional 31,111 shares during the period. NEOS Investment Management LLC’s holdings in PG&E were worth $2,615,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Versant Capital Management Inc grew its stake in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the period. UMB Bank n.a. boosted its position in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,506 shares during the period. First Horizon Advisors Inc. increased its holdings in PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC purchased a new position in PG&E in the fourth quarter valued at about $111,000. Finally, Exchange Traded Concepts LLC lifted its stake in shares of PG&E by 32.4% during the fourth quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 1,526 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Morgan Stanley raised their price target on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. BMO Capital Markets boosted their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.05.

Insider Activity at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The stock was acquired 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 of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, 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. Insiders own 0.15% of the company’s stock.

PG&E Stock Down 1.0 %

Shares of PG&E stock opened at $16.98 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The business has a 50-day moving average price of $16.21 and a 200 day moving average price of $18.68. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The firm has a market cap of $45.35 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period in the prior year, the company posted $0.47 EPS. On average, sell-side analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

About PG&E

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.