Geode Capital Management LLC Raises Stake in PG&E Co. (NYSE:PCG)

Geode Capital Management LLC lifted its position in shares of PG&E Co. (NYSE:PCG) by 4.3% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 51,988,553 shares of the utilities provider’s stock after buying an additional 2,151,494 shares during the period. Geode Capital Management LLC owned 1.99% of PG&E worth $1,046,462,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Versant Capital Management Inc lifted its stake 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 period. UMB Bank n.a. lifted its position in PG&E by 61.5% during the fourth 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. First Horizon Advisors Inc. boosted its stake in 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 buying an additional 4,819 shares during the last quarter. Sierra Ocean LLC purchased a new stake in PG&E in the 4th quarter valued at about $111,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of PG&E by 32.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock valued at $126,000 after acquiring an additional 1,526 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Up 0.9 %

NYSE PCG opened at $17.42 on Thursday. The stock has a market cap of $46.53 billion, a PE ratio of 15.15, a P/E/G ratio of 1.09 and a beta of 1.04. The business has a 50 day moving average price of $16.23 and a two-hundred day moving average price of $18.63. 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 quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last released its quarterly 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. 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 during the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the business earned $0.47 EPS. As a group, sell-side analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.57%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

Insider Activity at PG&E

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

PCG has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Morgan Stanley increased their target price on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and lowered their price target for the company from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, Barclays cut their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

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.