Pallas Capital Advisors LLC Raises Holdings in PG&E Co. (NYSE:PCG)

Pallas Capital Advisors LLC boosted its stake in shares of PG&E Co. (NYSE:PCG) by 35.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,080 shares of the utilities provider’s stock after acquiring an additional 4,720 shares during the quarter. Pallas Capital Advisors LLC’s holdings in PG&E were worth $365,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc grew its stake in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares during the period. Blue Trust Inc. grew its position in PG&E by 77.7% during the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after buying an additional 1,834 shares during the period. William B. Walkup & Associates Inc. purchased a new position in PG&E in the second quarter valued at $74,000. Catalyst Capital Advisors LLC raised its position in shares of PG&E by 98.5% in the third 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. Finally, Huntington National Bank boosted its stake in shares of 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 in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Price Performance

Shares of NYSE PCG opened at $16.86 on Thursday. The stock has a market capitalization of $44.09 billion, a price-to-earnings ratio of 13.17, a price-to-earnings-growth ratio of 1.51 and a beta of 0.98. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.72. The firm has a 50-day simple moving average of $20.13 and a 200-day simple moving average of $19.47. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last released its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s revenue was up .9% on a year-over-year basis. During the same period last year, the company posted $0.24 EPS. On average, equities analysts predict that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s payout ratio is currently 7.81%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCG. BMO Capital Markets started coverage on PG&E in a report on Monday. They issued an “outperform” rating and a $21.00 price target for the company. Morgan Stanley upped their target price on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Barclays dropped their price target on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Mizuho upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Jefferies Financial Group assumed coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $22.64.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’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 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 $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.15% of the company’s stock.

About PG&E

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.