PG&E Co. (NYSE:PCG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. lowered its stake in shares of PG&E Co. (NYSE:PCG) by 6.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,034 shares of the utilities provider’s stock after selling 12,936 shares during the quarter. QRG Capital Management Inc.’s holdings in PG&E were worth $3,673,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of PCG. Versant Capital Management Inc boosted its holdings in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares in the last quarter. Commerce Bank lifted its position in PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after acquiring an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC lifted its position in PG&E by 4.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 715 shares during the last quarter. Continuum Advisory LLC boosted its stake in PG&E by 11.4% in the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 769 shares in the last quarter. Finally, iA Global Asset Management Inc. grew its holdings in shares of PG&E by 2.6% during the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the 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 purchase, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction 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. This trade represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

PG&E Stock Performance

Shares of PCG opened at $16.33 on Friday. The stock has a market capitalization of $43.62 billion, a P/E ratio of 14.20, a P/E/G ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company’s fifty day moving average is $17.15 and its two-hundred day moving average is $19.03.

PG&E (NYSE:PCG) last issued its quarterly 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. The business had revenue of $6.63 billion for 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 business posted $0.47 earnings per share. On average, sell-side analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.61%. PG&E’s dividend payout ratio is currently 8.70%.

Wall Street Analysts Forecast Growth

PCG has been the subject of several research reports. Barclays reduced their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $16.50 in a research note on Friday, February 14th. Mizuho raised their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets lifted 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. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $22.23.

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.