38,800 Shares in PG&E Co. (NYSE:PCG) Bought by SCP Investment LP

SCP Investment LP bought a new stake in shares of PG&E Co. (NYSE:PCG) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 38,800 shares of the utilities provider’s stock, valued at approximately $783,000. PG&E makes up approximately 0.6% of SCP Investment LP’s portfolio, making the stock its 22nd largest position.

A number of other institutional investors and hedge funds also recently bought and sold shares of PCG. Czech National Bank increased its holdings in shares of PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after purchasing an additional 38,590 shares during the last quarter. New York State Teachers Retirement System raised its holdings in shares of PG&E by 8.2% during the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after acquiring an additional 148,860 shares in the last quarter. State Street Corp boosted its position in shares of 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 acquiring an additional 5,191,463 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in shares of PG&E in the fourth quarter valued at $514,000. Finally, Atria Wealth Solutions Inc. bought a new stake in PG&E in the fourth quarter worth $466,000. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on PCG shares. BMO Capital Markets increased their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, PG&E presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Stock Performance

Shares of PG&E stock opened at $16.98 on Friday. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a market capitalization of $45.35 billion, a PE ratio of 14.76, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The stock’s fifty day moving average is $16.21 and its two-hundred day moving average is $18.68. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

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

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s payout ratio is 8.70%.

Insider Buying and Selling

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade 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 insiders.

PG&E Company 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.