Levin Capital Strategies L.P. Purchases 57,809 Shares of PG&E Co. (NYSE:PCG)

Levin Capital Strategies L.P. grew its stake in shares of PG&E Co. (NYSE:PCG) by 6.3% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 982,231 shares of the utilities provider’s stock after purchasing an additional 57,809 shares during the quarter. PG&E accounts for 1.9% of Levin Capital Strategies L.P.’s holdings, making the stock its 20th largest position. Levin Capital Strategies L.P.’s holdings in PG&E were worth $19,821,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of PCG. FMR LLC raised its position in shares of PG&E by 5.1% during 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 last quarter. State Street Corp raised its position in shares of PG&E by 5.0% during 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 last quarter. Brookfield Corp ON raised its position in shares of PG&E by 45.6% during the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after buying an additional 3,958,495 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of PG&E by 2.9% during 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 last quarter. Finally, Duff & Phelps Investment Management Co. raised its position in shares of PG&E by 91.2% during the third quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock valued at $79,622,000 after buying an additional 1,920,734 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Up 2.8 %

NYSE PCG opened at $16.33 on Friday. 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 fifty day moving average of $17.15 and a two-hundred day moving average of $19.03. The firm 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 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 data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. The company had revenue of $6.63 billion during the quarter, compared to analyst estimates 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 in the previous year, the firm earned $0.47 earnings per share. On average, analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis 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%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PCG shares. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. BMO Capital Markets raised their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $20.00 to $16.50 in a report on Friday, February 14th. Finally, Mizuho raised 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 research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $22.23.

Insider Activity

In other news, Director Arno Lockheart Harris acquired 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, for a total transaction 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 $232,770.24. The trade was a 75.39 % increase in their position. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.