GAMMA Investing LLC Has $3.02 Million Stake in PG&E Co. (NYSE:PCG)

GAMMA Investing LLC lifted its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 738.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 176,043 shares of the utilities provider's stock after purchasing an additional 155,052 shares during the period. GAMMA Investing LLC's holdings in PG&E were worth $3,024,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. True Wealth Design LLC increased its position in shares of PG&E by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after purchasing an additional 1,690 shares during the last quarter. Colonial Trust Co SC lifted its position in shares of PG&E by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after buying an additional 1,627 shares during the last quarter. Versant Capital Management Inc boosted its holdings in PG&E by 124.9% during the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 1,927 shares during the period. Optiver Holding B.V. lifted its stake in shares of 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 during the period. Finally, MassMutual Private Wealth & Trust FSB boosted its holdings in shares of PG&E by 30.2% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider's stock worth $89,000 after acquiring an additional 1,203 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

PG&E Price Performance

Shares of PG&E stock traded down $0.70 during trading on Friday, reaching $13.60. The company's stock had a trading volume of 50,995,320 shares, compared to its average volume of 17,569,967. 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 Co. has a 12-month low of $13.52 and a 12-month high of $21.72. The company has a market capitalization of $36.39 billion, a P/E ratio of 11.83, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60. The business has a 50 day moving average price of $16.77 and a 200-day moving average price of $17.36.

PG&E (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the company posted $0.37 earnings per share. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Monday, June 30th. PG&E's payout ratio is currently 9.17%.

Analyst Ratings Changes

A number of research firms have issued reports on PCG. BMO Capital Markets lowered their target price on PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Wells Fargo & Company reiterated an "overweight" rating and issued a $24.00 price target on shares of PG&E in a report on Friday, April 25th. Morgan Stanley set a $18.00 price objective on PG&E and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Barclays reduced their target price on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Finally, Evercore ISI boosted their target price on PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat, PG&E presently has an average rating of "Moderate Buy" and an average price target of $20.75.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction dated Tuesday, April 29th. The stock was 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 of the company's stock, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.14% of the company's stock.

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.