Diversify Wealth Management LLC Decreases Stock Holdings in PG&E Co. (NYSE:PCG)

Diversify Wealth Management LLC cut its stake in PG&E Co. (NYSE:PCG) by 8.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,995 shares of the utilities provider’s stock after selling 3,674 shares during the period. Diversify Wealth Management LLC’s holdings in PG&E were worth $787,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in PG&E by 5.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 6,651,723 shares of the utilities provider’s stock valued at $116,141,000 after buying an additional 335,306 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of PG&E in the second quarter valued at about $2,565,000. Sei Investments Co. increased its position in PG&E by 9.1% during the second quarter. Sei Investments Co. now owns 1,455,620 shares of the utilities provider’s stock worth $25,415,000 after purchasing an additional 121,549 shares during the last quarter. ProShare Advisors LLC increased its position in PG&E by 1.5% during the second quarter. ProShare Advisors LLC now owns 540,901 shares of the utilities provider’s stock worth $9,444,000 after purchasing an additional 7,966 shares during the last quarter. Finally, Frank Rimerman Advisors LLC raised its stake in PG&E by 1,312.3% during the second quarter. Frank Rimerman Advisors LLC now owns 12,711 shares of the utilities provider’s stock worth $222,000 after purchasing an additional 11,811 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of PCG stock opened at $17.31 on Wednesday. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.72. The firm has a 50 day moving average of $19.91 and a two-hundred day moving average of $19.48. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The stock has a market capitalization of $45.27 billion, a PE ratio of 13.52, a P/E/G ratio of 1.19 and a beta of 0.98.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.24 EPS. On average, research analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were paid a $0.025 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is currently 7.81%.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent analyst reports. Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Barclays reduced their target price on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. UBS Group lowered their price target on PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Mizuho boosted their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, BMO Capital Markets started coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 price target for the company. Two investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, PG&E currently has an average rating of “Moderate Buy” and an average target price of $22.64.

About PG&E

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.