Carla J. Peterman Sells 32,519 Shares of PG&E Co. (NYSE:PCG) Stock

PG&E Co. (NYSE:PCG) EVP Carla J. Peterman sold 32,519 shares of the business’s stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the sale, the executive vice president now owns 151,116 shares of the company’s stock, valued at $2,614,306.80. This trade represents a 17.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

PG&E Trading Up 1.6 %

Shares of PCG stock opened at $16.93 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $45.30 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The stock’s 50-day moving average price is $16.79 and its 200-day moving average price is $18.16.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company’s revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. Equities research analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a $0.025 dividend. The ex-dividend date was Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.59%. PG&E’s dividend payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Jefferies Financial Group upped their price target on PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a research report on Wednesday, April 23rd. Guggenheim raised their target price on shares of PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Finally, Evercore ISI lifted their price target on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a report on Monday, April 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and a consensus price target of $21.13.

Institutional Investors Weigh In On PG&E

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PCG. Barclays PLC lifted its position in PG&E by 8.0% in the third quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider’s stock worth $112,541,000 after buying an additional 420,133 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of PG&E in the 3rd quarter worth about $349,000. Tidal Investments LLC boosted its stake in shares of PG&E by 4.7% during the 3rd quarter. Tidal Investments LLC now owns 55,938 shares of the utilities provider’s stock worth $1,106,000 after purchasing an additional 2,527 shares during the period. Franklin Resources Inc. grew its holdings in PG&E by 4.1% during the 3rd quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider’s stock valued at $346,443,000 after purchasing an additional 681,369 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in PG&E by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider’s stock worth $53,816,000 after purchasing an additional 169,503 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

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.