Norden Group LLC Sells 3,029 Shares of PG&E Co. (NYSE:PCG)

Norden Group LLC trimmed its position in PG&E Co. (NYSE:PCG) by 5.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 49,798 shares of the utilities provider’s stock after selling 3,029 shares during the quarter. Norden Group LLC’s holdings in PG&E were worth $1,005,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Czech National Bank grew its stake in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after acquiring an additional 38,590 shares during the period. New York State Teachers Retirement System lifted its holdings in shares of PG&E by 8.2% in the 4th quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after purchasing an additional 148,860 shares in the last quarter. State Street Corp grew its position in PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in PG&E by 259.6% during the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after purchasing an additional 44,650 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in PG&E during the fourth quarter worth $514,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of analyst reports. Barclays reduced their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. UBS Group decreased their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Finally, BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. One research 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of NYSE:PCG opened at $16.33 on Monday. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company’s 50-day moving average is $17.15 and its 200 day moving average is $19.04. 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 company has a market capitalization of $43.62 billion, a P/E ratio of 14.20, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last released its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

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.