Potentia Wealth Acquires New Shares in PG&E Co. (NYSE:PCG)

Potentia Wealth bought a new stake in PG&E Co. (NYSE:PCG) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 59,533 shares of the utilities provider’s stock, valued at approximately $1,201,000.

Other large investors also recently bought and sold shares of the company. Versant Capital Management Inc raised its position in shares of PG&E by 68.3% during the 4th 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 last quarter. UMB Bank n.a. raised its holdings in shares of PG&E by 61.5% in the fourth 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. First Horizon Advisors Inc. lifted its position 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 valued at $110,000 after acquiring an additional 4,819 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of PG&E during the fourth quarter valued at $111,000. Finally, Brooklyn Investment Group purchased a new stake in PG&E during the 3rd quarter worth about $115,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on PCG shares. Mizuho raised their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Barclays decreased their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Finally, UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

PG&E Stock Performance

PG&E stock opened at $17.16 on Tuesday. The firm has a market capitalization of $45.83 billion, a PE ratio of 14.92, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The stock’s 50 day moving average price is $16.18 and its 200 day moving average price is $18.75. 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 (NYSE:PCG) last posted its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the company posted $0.47 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Insider Activity

In other PG&E news, 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 completion of the transaction, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction dated 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 purchase, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. Company 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.