PG&E Co. (NYSE:PCG) Stock Holdings Lessened by Stevens Capital Management LP

Stevens Capital Management LP cut its stake in shares of PG&E Co. (NYSE:PCG) by 43.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,947 shares of the utilities provider’s stock after selling 10,043 shares during the period. Stevens Capital Management LP’s holdings in PG&E were worth $261,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCG. Versant Capital Management Inc increased its holdings in PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the last quarter. Commerce Bank increased its stake in shares of PG&E by 1.5% during the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after purchasing an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC raised its holdings in shares of PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 715 shares in the last quarter. Continuum Advisory LLC lifted its stake in shares of PG&E by 11.4% in the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. boosted its holdings in PG&E by 2.6% in the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris bought 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

PG&E Price Performance

Shares of PCG stock opened at $17.16 on Tuesday. The firm’s 50 day moving average price is $16.18 and its two-hundred day moving average price is $18.75. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The stock has a market cap of $45.83 billion, a PE ratio of 14.92, a PEG ratio of 1.09 and a beta of 1.04.

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

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is 8.70%.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. BMO Capital Markets lifted their price target on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Barclays decreased their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Morgan Stanley lifted their target price on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Thursday, March 20th. Finally, Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

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.