PG&E Co. (NYSE:PCG) Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP lessened its position in PG&E Co. (NYSE:PCG) by 40.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 22,990 shares of the utilities provider’s stock after selling 15,871 shares during the period. Stevens Capital Management LP’s holdings in PG&E were worth $455,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of PG&E by 259.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after acquiring an additional 44,650 shares during the period. Scientech Research LLC purchased a new position in shares of PG&E in the 2nd quarter valued at about $1,122,000. Allspring Global Investments Holdings LLC increased its holdings in shares of PG&E by 808.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock valued at $21,703,000 after purchasing an additional 1,106,200 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of PG&E by 23.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,387,786 shares of the utilities provider’s stock valued at $24,230,000 after purchasing an additional 265,694 shares in the last quarter. Finally, Creative Planning increased its holdings in shares of PG&E by 39.6% in the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock valued at $1,944,000 after purchasing an additional 31,573 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $20.39 on Friday. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.72. The stock has a market capitalization of $53.33 billion, a P/E ratio of 15.93, a P/E/G ratio of 1.60 and a beta of 1.01. The firm’s 50-day moving average is $20.50 and its two-hundred day moving average is $19.19. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (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 company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same period last year, the company earned $0.24 EPS. The firm’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.025 per share. This is a boost from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 annualized dividend and a dividend yield of 0.49%. The ex-dividend date of this dividend is Tuesday, December 31st. PG&E’s dividend payout ratio (DPR) is currently 3.13%.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at approximately $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. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. UBS Group increased their price target on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Barclays increased their price target on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Mizuho raised their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Company Profile

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.