MassMutual Private Wealth & Trust FSB Purchases 1,203 Shares of PG&E Co. (NYSE:PCG)

MassMutual Private Wealth & Trust FSB boosted its stake in shares of PG&E Co. (NYSE:PCG) by 30.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,183 shares of the utilities provider’s stock after purchasing an additional 1,203 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in PG&E were worth $89,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC lifted its holdings in PG&E by 35.4% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 106,585 shares of the utilities provider’s stock worth $2,151,000 after purchasing an additional 27,873 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ bought a new stake in shares of PG&E during the fourth quarter valued at approximately $13,140,000. Mackenzie Financial Corp lifted its holdings in shares of PG&E by 22.6% in the fourth quarter. Mackenzie Financial Corp now owns 1,703,979 shares of the utilities provider’s stock worth $34,386,000 after buying an additional 314,119 shares in the last quarter. Castlekeep Investment Advisors LLC bought a new position in shares of PG&E during the fourth quarter worth $253,000. Finally, GF Fund Management CO. LTD. purchased a new position in PG&E during the fourth quarter valued at $6,823,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on PCG shares. BMO Capital Markets decreased their price target on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 target price on shares of PG&E in a research report on Friday, April 25th. Morgan Stanley set a $18.00 target price on PG&E and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. Barclays decreased their target price on PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.75.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,519 shares of the company’s stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the transaction, the executive vice president now owns 151,116 shares of the company’s stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.14% of the company’s stock.

PG&E Trading Down 1.1%

Shares of NYSE PCG opened at $16.88 on Monday. The business’s 50 day moving average is $17.06 and its two-hundred day moving average is $17.67. 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 1-year low of $14.99 and a 1-year high of $21.72. The stock has a market capitalization of $45.16 billion, a P/E ratio of 14.68, a PEG 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 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.37 EPS. As a group, research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s dividend payout ratio is 9.17%.

PG&E 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.