Resolution Capital Ltd Sells 1,300 Shares of PG&E Co. (NYSE:PCG)

Resolution Capital Ltd reduced its position in PG&E Co. (NYSE:PCG) by 1.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 112,170 shares of the utilities provider’s stock after selling 1,300 shares during the period. Resolution Capital Ltd’s holdings in PG&E were worth $2,264,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Level Four Advisory Services LLC lifted its position in shares of PG&E by 7.5% in the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider’s stock valued at $223,000 after buying an additional 772 shares during the last quarter. Optiver Holding B.V. raised its stake in PG&E by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 825 shares during the period. Clarius Group LLC raised its stake in PG&E by 8.2% in the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider’s stock valued at $223,000 after acquiring an additional 833 shares during the period. Greenleaf Trust lifted its holdings in PG&E by 5.9% during the 4th quarter. Greenleaf Trust now owns 15,542 shares of the utilities provider’s stock valued at $314,000 after purchasing an additional 872 shares during the last quarter. Finally, Apollon Wealth Management LLC lifted its holdings in PG&E by 9.0% during the 4th quarter. Apollon Wealth Management LLC now owns 11,168 shares of the utilities provider’s stock valued at $225,000 after purchasing an additional 923 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.

PG&E Stock Up 0.5%

Shares of PCG opened at $17.04 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The firm’s 50 day moving average is $16.92 and its 200-day moving average is $17.98. The stock has a market capitalization of $45.59 billion, a PE ratio of 14.82, a P/E/G ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last released its 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). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the company posted $0.37 earnings per share. The business’s revenue for the quarter was up 2.1% compared to the same quarter last year. Equities research analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on PCG shares. Guggenheim upped their price objective on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Barclays decreased their price target on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. 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. Jefferies Financial Group raised their price objective on shares of PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, 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. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $21.13.

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.