Clearline Capital LP Buys New Shares in PG&E Co. (NYSE:PCG)

Clearline Capital LP acquired a new position in shares of PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 46,238 shares of the utilities provider's stock, valued at approximately $933,000.

Other hedge funds also recently bought and sold shares of the company. Versant Capital Management Inc increased its position 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 during the period. Baker Tilly Wealth Management LLC lifted its position in shares of PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider's stock worth $330,000 after buying an additional 715 shares during the period. Level Four Advisory Services LLC boosted its stake in shares of PG&E by 7.5% in the 4th quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock valued at $223,000 after purchasing an additional 772 shares in the last quarter. Optiver Holding B.V. boosted its position in PG&E by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after buying an additional 825 shares in the last quarter. Finally, Clarius Group LLC grew its position in PG&E by 8.2% during the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider's stock worth $223,000 after acquiring an additional 833 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have weighed in on PCG. Wells Fargo & Company restated an "overweight" rating and issued a $24.00 price objective on shares of PG&E in a research report on Friday, April 25th. Barclays lowered their target price on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets cut their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Finally, Jefferies Financial Group raised their price target on shares of PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One investment 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's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

PG&E Stock Performance

Shares of PCG traded down $0.07 during trading hours on Friday, hitting $17.11. The company had a trading volume of 17,180,187 shares, compared to its average volume of 16,529,287. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The firm has a market cap of $45.78 billion, a price-to-earnings ratio of 14.88, a PEG ratio of 1.09 and a beta of 0.63. The business has a fifty day moving average of $16.88 and a 200-day moving average of $18.03. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate 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 return on equity of 10.94% and a net margin of 10.27%. The firm's quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.37 EPS. Equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. PG&E's payout ratio is 9.17%.

Insider Buying and Selling

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of PG&E 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 transaction, the executive vice president now owns 183,635 shares in the company, 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 legal filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the company's stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is currently owned by company insiders.

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.