Freestone Grove Partners LP Invests $657,000 in PG&E Co. (NYSE:PCG)

Freestone Grove Partners LP purchased a new stake in PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The fund purchased 32,546 shares of the utilities provider's stock, valued at approximately $657,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Comerica Bank raised its stake in PG&E by 24.1% during the fourth quarter. Comerica Bank now owns 333,797 shares of the utilities provider's stock valued at $6,736,000 after buying an additional 64,919 shares in the last quarter. Gallo Partners LP acquired a new position in PG&E in the 4th quarter worth approximately $2,446,000. Voleon Capital Management LP acquired a new stake in shares of PG&E during the fourth quarter worth approximately $1,246,000. AQR Capital Management LLC raised its stake in shares of PG&E by 41.6% during the 4th quarter. AQR Capital Management LLC now owns 3,946,322 shares of the utilities provider's stock worth $79,637,000 after purchasing an additional 1,158,778 shares in the last quarter. Finally, Electron Capital Partners LLC lifted its position in shares of PG&E by 2.3% in the fourth quarter. Electron Capital Partners LLC now owns 4,659,729 shares of the utilities provider's stock worth $94,033,000 after buying an additional 106,809 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Price Performance

PCG traded up $0.15 during trading hours on Tuesday, hitting $17.07. The company's stock had a trading volume of 15,664,533 shares, compared to its average volume of 16,501,154. The stock has a market cap of $45.66 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.09 and a beta of 0.63. The business's 50-day moving average price is $16.81 and its 200-day moving average price is $18.11. 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 - Get Free Report) last issued its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Sell-side analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. PG&E's dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris bought 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, for a total transaction of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares of the company's stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the transaction, the executive vice president now owns 151,116 shares in the company, valued at $2,614,306.80. This represents a 17.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PCG. Guggenheim lifted their price objective on PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. BMO Capital Markets decreased their price target on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. UBS Group downgraded 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 report on Wednesday, March 19th. Jefferies Financial Group boosted their price target on shares of PG&E from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. restated an "overweight" rating and set a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, PG&E currently has a consensus rating of "Moderate Buy" and an average target price of $21.13.

PG&E 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.