Parallel Advisors LLC Acquires 1,120 Shares of PG&E Co. (NYSE:PCG)

Parallel Advisors LLC raised its holdings in shares of PG&E Co. (NYSE:PCG) by 3.1% in the 4th quarter, Holdings Channel.com reports. The fund owned 37,738 shares of the utilities provider’s stock after buying an additional 1,120 shares during the period. Parallel Advisors LLC’s holdings in PG&E were worth $762,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. FMR LLC grew its stake in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares in the last quarter. State Street Corp grew 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 in the last quarter. Massachusetts Financial Services Co. MA grew 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 in the last quarter. Geode Capital Management LLC grew its stake in shares of PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after buying an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after buying an additional 1,822,835 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Insider Activity at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, 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 ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

PG&E Stock Up 0.6 %

PCG opened at $17.20 on Friday. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two 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. The company has a market capitalization of $45.93 billion, a P/E ratio of 14.95, a P/E/G ratio of 1.09 and a beta of 1.04. The stock has a fifty day moving average of $16.17 and a 200-day moving average of $18.81.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter last year, the firm earned $0.47 earnings per share. On average, equities 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 paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Wall Street Analyst Weigh In

PCG has been the subject of several analyst reports. Morgan Stanley raised their target price on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday. Mizuho raised their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $19.00 in a report on Wednesday. Finally, BMO Capital Markets raised their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.05.

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.