Teilinger Capital Ltd. Sells 200,000 Shares of PG&E Co. (NYSE:PCG)

Teilinger Capital Ltd. decreased its holdings in shares of PG&E Co. (NYSE:PCG) by 28.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 500,000 shares of the utilities provider’s stock after selling 200,000 shares during the period. PG&E makes up 1.8% of Teilinger Capital Ltd.’s portfolio, making the stock its 5th biggest holding. Teilinger Capital Ltd.’s holdings in PG&E were worth $10,090,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in PCG. Versant Capital Management Inc boosted its position 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 valued at $31,000 after purchasing an additional 626 shares in the last quarter. UMB Bank n.a. boosted its position in shares of PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares in the last quarter. Catalyst Capital Advisors LLC boosted its position in shares of 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 boosted its position 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 valued at $96,000 after purchasing an additional 1,195 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its position in shares of PG&E by 746.0% during the 4th 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. Institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on PCG. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $16.50 in a research report on Friday, February 14th. BMO Capital Markets raised their target price on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Finally, UBS Group decreased their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Performance

PCG stock opened at $16.33 on Friday. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The stock has a market cap of $43.62 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.09 and a beta of 0.99. The firm has a 50 day simple moving average of $17.22 and a 200 day simple moving average of $19.05. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting 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 net margin of 10.27% and a return on equity of 10.94%. During the same period last year, the company posted $0.47 earnings per share. Research analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Insider Buying and Selling

In other PG&E 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, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

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.