Keybank National Association OH Cuts Stock Position in PG&E Co. (NYSE:PCG)

Keybank National Association OH cut its holdings in PG&E Co. (NYSE:PCG) by 33.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 471,028 shares of the utilities provider’s stock after selling 239,525 shares during the quarter. Keybank National Association OH’s holdings in PG&E were worth $9,505,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in PCG. FMR LLC boosted its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. State Street Corp boosted its stake in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares during the last quarter. Brookfield Corp ON boosted its stake in shares of PG&E by 45.6% in the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after acquiring an additional 3,958,495 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of PG&E by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Finally, Duff & Phelps Investment Management Co. boosted its stake in shares of PG&E by 91.2% in 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 acquiring an additional 1,920,734 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Price Performance

NYSE:PCG opened at $16.41 on Thursday. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $43.82 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.09 and a beta of 0.99. The stock’s fifty day moving average is $16.92 and its two-hundred day moving average is $18.99.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates 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 in the previous year, the business earned $0.47 earnings per share. Equities analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.61%. PG&E’s dividend payout ratio is currently 8.70%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PCG. Barclays lowered their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. UBS Group lowered their price target on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $20.00 to $16.50 in a research note on Friday, February 14th. BMO Capital Markets boosted their price objective on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Finally, Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, PG&E presently has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Buying and Selling at PG&E

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

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.