PG&E Co. (NYSE:PCG) Shares Sold by 44 Wealth Management LLC

44 Wealth Management LLC lessened its holdings in shares of PG&E Co. (NYSE:PCG) by 5.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 41,612 shares of the utilities provider’s stock after selling 2,552 shares during the quarter. 44 Wealth Management LLC’s holdings in PG&E were worth $840,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PCG. FMR LLC grew its stake in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. State Street Corp grew its stake in PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Brookfield Corp ON grew its stake in PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after purchasing an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. lifted its holdings in PG&E by 91.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock worth $79,622,000 after buying an additional 1,920,734 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $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 can be accessed through this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction 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 transaction, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

PG&E Trading Up 1.6 %

Shares of NYSE PCG opened at $15.94 on Friday. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock’s 50 day simple moving average is $17.50 and its 200 day simple moving average is $19.10.

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

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.63%. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Analyst Ratings Changes

A number of research analysts have commented on the company. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $16.50 in a report on Friday, February 14th. UBS Group reduced their target price on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. BMO Capital Markets increased their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

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.