PG&E Co. (NYSE:PCG) Shares Sold by Millburn Ridgefield Corp

Millburn Ridgefield Corp trimmed its holdings in PG&E Co. (NYSE:PCG) by 23.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,072 shares of the utilities provider’s stock after selling 650 shares during the quarter. Millburn Ridgefield Corp’s holdings in PG&E were worth $37,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Raymond James Trust N.A. lifted its holdings in PG&E by 4.2% in the fourth quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock valued at $307,000 after acquiring an additional 680 shares during the period. Bleakley Financial Group LLC boosted its holdings in PG&E by 1.5% during the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after buying an additional 691 shares in the last quarter. Signaturefd LLC grew its position in PG&E by 10.9% during the third quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock worth $130,000 after buying an additional 794 shares during the period. Glenmede Trust Co. NA increased its holdings in PG&E by 5.5% in the third quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider’s stock valued at $258,000 after buying an additional 835 shares in the last quarter. Finally, Caprock Group LLC lifted its position in shares of PG&E by 5.1% during the 4th quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider’s stock valued at $370,000 after acquiring an additional 999 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.2 %

NYSE:PCG traded up $0.04 during trading hours on Friday, reaching $17.57. 12,813,177 shares of the company were exchanged, compared to its average volume of 11,748,601. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.32. The stock has a 50 day simple moving average of $16.65 and a 200 day simple moving average of $16.94. The firm has a market cap of $37.55 billion, a price-to-earnings ratio of 15.69 and a beta of 1.26. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s revenue for the quarter was down 5.6% compared to the same quarter last year. During the same quarter last year, the firm earned $0.29 earnings per share. As a group, analysts predict that PG&E Co. will post 1.35 EPS for the current year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.23%. PG&E’s dividend payout ratio is currently 3.57%.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. JPMorgan Chase & Co. upped their price target on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective on the stock. Finally, Barclays lifted their target price on shares of PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $19.11.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.