Bank of New York Mellon Corp Has $231.94 Million Stock Position in PG&E Co. (NYSE:PCG)

Bank of New York Mellon Corp trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 0.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,493,291 shares of the utilities provider’s stock after selling 4,299 shares during the quarter. Bank of New York Mellon Corp’s holdings in PG&E were worth $231,935,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its holdings in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares during the last quarter. UMB Bank n.a. grew its stake in PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,506 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in PG&E by 98.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 2,154 shares during the period. Huntington National Bank lifted its position in PG&E by 32.9% during the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares during the last quarter. Finally, First Horizon Advisors Inc. boosted its holdings in PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 4,819 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was 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 owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction on Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

PG&E Trading Down 0.6 %

Shares of PCG opened at $15.95 on Friday. The stock has a 50 day simple moving average of $17.29 and a 200-day simple moving average of $19.07. 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 has a market cap of $42.59 billion, a PE ratio of 13.87, a PEG ratio of 1.09 and a beta of 0.99. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

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, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm posted $0.47 EPS. On average, sell-side analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

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

Analyst Ratings Changes

Several research firms recently weighed in on PCG. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $20.00 to $16.50 in a research note on Friday, February 14th. Mizuho raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays dropped their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. UBS Group reduced their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $22.23.

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.