Gulf International Bank UK Ltd Sells 1,714 Shares of PG&E Co. (NYSE:PCG)

Gulf International Bank UK Ltd cut its stake in shares of PG&E Co. (NYSE:PCG) by 1.1% during the fourth quarter, HoldingsChannel reports. The firm owned 155,789 shares of the utilities provider’s stock after selling 1,714 shares during the quarter. Gulf International Bank UK Ltd’s holdings in PG&E were worth $3,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Versant Capital Management Inc lifted its stake in PG&E by 68.3% in the fourth 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 last quarter. UMB Bank n.a. increased its holdings in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,506 shares during the period. Catalyst Capital Advisors LLC raised its position in PG&E by 98.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 2,154 shares in the last quarter. Huntington National Bank increased 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 valued at $96,000 after purchasing an additional 1,195 shares during the period. Finally, First Horizon Advisors Inc. boosted its position 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 purchasing an additional 4,819 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 0.6 %

Shares of NYSE:PCG opened at $15.95 on Friday. The firm’s 50-day moving average is $17.29 and its two-hundred day moving average is $19.07. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The firm has a market capitalization of $42.59 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter last year, the business posted $0.47 EPS. Analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be paid a $0.025 dividend. 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 is currently 8.70%.

Insiders Place Their Bets

In other 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 transaction of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was acquired 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 of the company’s stock, 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. 0.15% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCG. UBS Group lowered their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Barclays reduced their price objective 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 raised their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Finally, Mizuho lifted 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. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.23.

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.