Stevens Capital Management LP Sells 10,043 Shares of PG&E Co. (NYSE:PCG)

Stevens Capital Management LP reduced its stake in PG&E Co. (NYSE:PCG) by 43.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,947 shares of the utilities provider’s stock after selling 10,043 shares during the quarter. Stevens Capital Management LP’s holdings in PG&E were worth $261,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. FMR LLC lifted its holdings in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp increased its position 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 worth $2,155,093,000 after buying an additional 5,191,463 shares during the period. Brookfield Corp ON increased its position 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 worth $249,954,000 after buying an additional 3,958,495 shares during the period. Duff & Phelps Investment Management Co. lifted its holdings in shares of PG&E by 91.2% during the third 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 in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of PG&E by 13.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 15,572,325 shares of the utilities provider’s stock valued at $307,865,000 after acquiring an additional 1,867,690 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Price Performance

Shares of NYSE:PCG opened at $17.16 on Tuesday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $45.83 billion, a price-to-earnings ratio of 14.92, a PEG ratio of 1.09 and a beta of 1.04. The firm has a 50 day simple moving average of $16.18 and a 200 day simple moving average of $18.75.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate 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 for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the business posted $0.47 EPS. Research analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

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

Analysts Set New Price Targets

PCG has been the subject of a number of recent research reports. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. BMO Capital Markets lifted their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Morgan Stanley increased their target price on 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 research report on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

Insider Activity at PG&E

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

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.