New York Life Investment Management LLC Purchases 9,346 Shares of PG&E Co. (NYSE:PCG)

New York Life Investment Management LLC grew its position in PG&E Co. (NYSE:PCG) by 3.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 323,976 shares of the utilities provider’s stock after buying an additional 9,346 shares during the quarter. New York Life Investment Management LLC’s holdings in PG&E were worth $6,538,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Versant Capital Management Inc raised its holdings in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares in the last quarter. Commerce Bank raised its holdings in PG&E by 1.5% during the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 712 shares in the last quarter. Baker Tilly Wealth Management LLC raised its holdings in PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 715 shares in the last quarter. Continuum Advisory LLC raised its holdings in PG&E by 11.4% during the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after acquiring an additional 769 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its holdings in PG&E by 2.6% during the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after acquiring an additional 812 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Price Performance

PG&E stock opened at $16.33 on Friday. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The stock’s 50 day moving average is $17.22 and its 200-day moving average is $19.05. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $43.62 billion, a price-to-earnings ratio of 14.20, a PEG ratio of 1.09 and a beta of 0.99.

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, hitting analysts’ consensus estimates of $0.31. The business 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 quarter in the prior year, the business posted $0.47 earnings per share. Equities research analysts expect 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. Investors of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a 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, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease 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, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on PCG shares. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Barclays dropped their price objective 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. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $20.00 to $16.50 in a research note on Friday, February 14th. Finally, UBS Group dropped their price objective 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. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat, PG&E presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E 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.