Huntington National Bank Acquires 1,205 Shares of PG&E Co. (NYSE:PCG)

Huntington National Bank grew its holdings in shares of PG&E Co. (NYSE:PCG) by 24.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,036 shares of the utilities provider’s stock after buying an additional 1,205 shares during the quarter. Huntington National Bank’s holdings in PG&E were worth $122,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Versant Capital Management Inc raised its holdings in 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 acquiring an additional 626 shares in the last quarter. UMB Bank n.a. increased its position in shares of 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 purchasing an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. raised its stake in shares of PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC acquired a new stake in shares of PG&E in the 4th quarter valued at approximately $111,000. Finally, Exchange Traded Concepts LLC grew its stake in shares of PG&E by 32.4% in the fourth quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock valued at $126,000 after buying an additional 1,526 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCG has been the topic of several analyst reports. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Barclays dropped 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 lifted their price target on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Thursday, March 20th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 target price 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, two have given a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, PG&E presently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

PG&E Stock Performance

PCG opened at $16.46 on Monday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The business has a fifty day simple moving average of $16.25 and a 200 day simple moving average of $18.58. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a market capitalization of $43.97 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

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, 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 company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The firm also recently announced 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 0.61%. PG&E’s dividend payout ratio is presently 8.70%.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arno Lockheart Harris acquired 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 transaction, the director now directly owns 14,864 shares of the company’s stock, valued at $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 company 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.