Crestline Management LP Has $8.08 Million Holdings in PG&E Co. (NYSE:PCG)

Crestline Management LP boosted its position in shares of PG&E Co. (NYSE:PCG) by 195.6% in the fourth quarter, Holdings Channel reports. The fund owned 400,140 shares of the utilities provider’s stock after acquiring an additional 264,790 shares during the period. Crestline Management LP’s holdings in PG&E were worth $8,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Czech National Bank lifted its position in shares of PG&E by 8.9% during the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after purchasing an additional 38,590 shares during the last quarter. New York State Teachers Retirement System lifted its holdings in shares of PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after buying an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of PG&E in the fourth quarter valued at approximately $514,000. Atria Wealth Solutions Inc. acquired a new stake in shares of PG&E in the fourth quarter worth $466,000. Finally, Merit Financial Group LLC bought a new position in PG&E during the fourth quarter worth $336,000. 78.56% of the stock is currently owned by institutional investors.

PG&E Stock Performance

PG&E stock opened at $16.94 on Tuesday. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The stock has a fifty day moving average price of $16.81 and a two-hundred day moving average price of $18.11. The firm has a market capitalization of $45.31 billion, a P/E ratio of 14.73, a P/E/G ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.37 earnings per share. As a group, analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were 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 was Monday, March 31st. PG&E’s payout ratio is currently 9.17%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on PCG. Wells Fargo & Company reissued an “overweight” rating and issued a $24.00 price target on shares of PG&E in a report on Friday, April 25th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Morgan Stanley restated an “underweight” rating on shares of PG&E in a research note on Wednesday, April 23rd. Barclays reduced their price objective on PG&E from $23.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, April 9th. Finally, Evercore ISI boosted their price objective on PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research report on Monday, April 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average price target of $21.13.

Insider Buying and Selling

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

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.