PG&E Co. (NYSE:PCG) Shares Sold by AXQ Capital LP

AXQ Capital LP decreased its stake in shares of PG&E Co. (NYSE:PCG) by 11.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 99,441 shares of the utilities provider’s stock after selling 13,409 shares during the quarter. PG&E comprises approximately 0.9% of AXQ Capital LP’s investment portfolio, making the stock its 3rd largest holding. AXQ Capital LP’s holdings in PG&E were worth $2,007,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the business. Czech National Bank boosted its holdings in PG&E by 8.9% during the 4th quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after acquiring an additional 38,590 shares during the last quarter. New York State Teachers Retirement System boosted its holdings in PG&E by 8.2% during 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 acquiring an additional 148,860 shares during the last quarter. State Street Corp boosted its holdings in PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares during the last quarter. McElhenny Sheffield Capital Management LLC purchased a new position in PG&E during the 4th quarter worth $514,000. Finally, Atria Wealth Solutions Inc. purchased a new position in PG&E during the 4th quarter worth $466,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on PCG. UBS Group cut PG&E from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $19.00 in a research note on Wednesday. BMO Capital Markets lifted their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Mizuho lifted their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Barclays lowered their target price 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. One analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

PG&E Stock Down 1.7 %

PCG stock opened at $16.91 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 firm has a market capitalization of $45.16 billion, a PE ratio of 14.70, a PEG ratio of 1.09 and a beta of 1.04. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The stock has a 50-day simple moving average of $16.16 and a two-hundred day simple moving average of $18.79.

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, meeting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates 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 previous year, the firm earned $0.47 EPS. On average, equities analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 0.59%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Insider Transactions at PG&E

In other 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 transaction 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 approximately $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by insiders.

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.