PG&E (NYSE:PCG) Sets New 1-Year Low – Here’s What Happened

PG&E Co. (NYSE:PCG) reached a new 52-week low on Tuesday . The stock traded as low as $15.94 and last traded at $16.12, with a volume of 3695419 shares changing hands. The stock had previously closed at $16.22.

Analyst Ratings Changes

Several brokerages have recently issued reports on PCG. BMO Capital Markets initiated coverage on shares of PG&E in a research report on Monday. They set an “outperform” rating and a $21.00 price target on the stock. UBS Group reduced their target price on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Morgan Stanley boosted their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, Jefferies Financial Group started coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

PG&E Price Performance

The stock has a fifty day moving average of $20.13 and a 200-day moving average of $19.47. 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 $44.09 billion, a price-to-earnings ratio of 13.17, a P/E/G ratio of 1.20 and a beta of 0.98.

PG&E (NYSE:PCG) last announced its quarterly 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. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period last year, the business earned $0.24 EPS. PG&E’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities 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 dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio (DPR) is currently 7.81%.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction 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 transaction, 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 legal filing with the SEC, which is available through this link. 0.15% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Versant Capital Management Inc raised its holdings in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the last quarter. Blue Trust Inc. lifted its position in PG&E by 77.7% during the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares during the period. William B. Walkup & Associates Inc. purchased a new position in shares of PG&E in the 2nd quarter valued at approximately $74,000. Catalyst Capital Advisors LLC grew its stake in shares of PG&E by 98.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Huntington National Bank increased its holdings in shares of PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,195 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

About PG&E

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.