Arno Lockheart Harris Acquires 6,389 Shares of PG&E Co. (NYSE:PCG) Stock

PG&E Co. (NYSE:PCG) 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, with a total value of $100,051.74. Following the completion of 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

PG&E Trading Up 1.6 %

Shares of NYSE:PCG opened at $15.94 on Friday. The company has a market cap of $42.57 billion, a P/E ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. The stock’s 50-day moving average is $17.50 and its 200-day moving average is $19.11. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG) last issued its quarterly earnings results 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 company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same period last year, the business posted $0.47 earnings per share. Equities research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. PG&E’s dividend payout ratio is currently 8.70%.

Institutional Investors Weigh In On PG&E

Several hedge funds and other institutional investors have recently made changes to their positions in PCG. Vanguard Group Inc. lifted its stake in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after buying an additional 6,151,233 shares during the period. FMR LLC lifted 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 valued at $3,496,115,000 after buying an additional 8,604,396 shares during the period. State Street Corp lifted 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 valued at $2,155,093,000 after buying an additional 5,191,463 shares during the period. Massachusetts Financial Services Co. MA lifted 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 valued at $2,072,824,000 after buying an additional 2,936,763 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of PG&E by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock valued at $1,046,462,000 after buying an additional 2,151,494 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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