PG&E Co. (NYSE:PCG) Position Decreased by Vestcor Inc

Vestcor Inc reduced its holdings in PG&E Co. (NYSE:PCG) by 25.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,004 shares of the utilities provider’s stock after selling 22,072 shares during the quarter. Vestcor Inc’s holdings in PG&E were worth $1,271,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 626 shares during the period. UMB Bank n.a. raised its holdings in PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,506 shares during the period. Huntington National Bank lifted its stake in PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,195 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,819 shares during the period. Finally, Sierra Ocean LLC purchased a new position in shares of PG&E in the fourth quarter worth approximately $111,000. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Price Performance

Shares of NYSE:PCG opened at $16.81 on Friday. The stock has a market capitalization of $44.89 billion, a P/E ratio of 14.61, a P/E/G ratio of 1.09 and a beta of 1.04. The business has a 50-day moving average of $16.36 and a two-hundred day moving average of $18.87. 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 current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG) last announced its 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. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, equities research analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The business 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. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.60%. PG&E’s payout ratio is 8.70%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the stock. BMO Capital Markets lifted their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Mizuho lifted 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 cut PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Barclays reduced their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. Finally, UBS Group lowered their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the stock in a transaction on 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 completion of the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade 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 corporate insiders.

About PG&E

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.