PNC Financial Services Group Inc. Has $1.99 Million Stock Position in PG&E Co. (NYSE:PCG)

PNC Financial Services Group Inc. grew its stake in shares of PG&E Co. (NYSE:PCG) by 8.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 98,655 shares of the utilities provider’s stock after purchasing an additional 7,366 shares during the period. PNC Financial Services Group Inc.’s holdings in PG&E were worth $1,991,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its holdings 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 valued at $31,000 after purchasing an additional 626 shares during the period. UMB Bank n.a. raised its holdings in shares of PG&E by 61.5% in the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares during the last quarter. Huntington National Bank raised its holdings in shares of PG&E by 32.9% in the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in shares of PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 4,819 shares during the last quarter. Finally, Sierra Ocean LLC acquired a new stake in shares of PG&E in the 4th quarter worth about $111,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Up 2.5 %

PCG opened at $16.81 on Friday. The company has a 50 day moving average of $16.36 and a 200 day moving average of $18.87. The company has a market cap of $44.89 billion, a PE ratio of 14.61, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the firm earned $0.47 EPS. On average, sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

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 given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.60%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is currently 8.70%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Barclays lowered their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Mizuho upped their price objective 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. UBS Group reduced their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. One investment 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Insider Activity

In related news, Director Arno Lockheart Harris acquired 6,389 shares of the stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

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.