PG&E Co. (NYSE:PCG) Stock Position Lowered by 44 Wealth Management LLC

44 Wealth Management LLC lessened its position in PG&E Co. (NYSE:PCG) by 5.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 41,612 shares of the utilities provider’s stock after selling 2,552 shares during the quarter. 44 Wealth Management LLC’s holdings in PG&E were worth $840,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PCG. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 626 shares during the period. UMB Bank n.a. raised its position in shares of PG&E by 61.5% during the fourth 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. Blue Trust Inc. raised its position in shares of PG&E by 77.7% during the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 1,834 shares during the period. Catalyst Capital Advisors LLC raised its position in shares of PG&E by 98.5% during the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 2,154 shares during the period. Finally, Huntington National Bank raised its position in shares of PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 1,195 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

PCG has been the topic of a number of recent analyst reports. BMO Capital Markets boosted their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. UBS Group dropped their price target on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $20.00 to $16.50 in a research report on Friday, February 14th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Performance

Shares of NYSE PCG opened at $15.94 on Friday. The business’s 50-day moving average price is $17.50 and its two-hundred day moving average price is $19.10. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a market capitalization of $42.57 billion, a P/E ratio of 13.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter in the previous year, the company posted $0.47 earnings per share. Analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. 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%.

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.