Hennessy Advisors Inc. Decreases Stake in PG&E Co. (NYSE:PCG)

Hennessy Advisors Inc. decreased its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 2.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 834,149 shares of the utilities provider's stock after selling 22,500 shares during the quarter. Hennessy Advisors Inc.'s holdings in PG&E were worth $14,331,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. True Wealth Design LLC lifted its stake in shares of PG&E by 1,233.6% during the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after buying an additional 1,690 shares during the last quarter. Colonial Trust Co SC grew its stake in PG&E by 563.0% during 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 in the last quarter. Versant Capital Management Inc increased its stake in PG&E by 124.9% in 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 last quarter. Optiver Holding B.V. lifted its stake in PG&E by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after purchasing an additional 825 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its stake in PG&E by 30.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider's stock worth $89,000 after purchasing an additional 1,203 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Insider Transactions at PG&E

In other news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the transaction, the executive vice president now owns 151,116 shares of the company's stock, valued at $2,614,306.80. This represents a 17.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Evercore ISI upped their price target on shares of PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. Morgan Stanley set a $18.00 price target on shares of PG&E and gave the stock an "underweight" rating in a report on Thursday, May 22nd. BMO Capital Markets lowered their price target on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Guggenheim upped their price target on shares of PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Finally, Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 price target on shares of PG&E in a report on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $20.75.

PG&E Trading Down 4.9%

NYSE PCG traded down $0.70 on Friday, reaching $13.60. The company had a trading volume of 50,995,320 shares, compared to its average volume of 17,569,967. The firm has a market cap of $36.39 billion, a price-to-earnings ratio of 11.83, a P/E/G ratio of 1.09 and a beta of 0.60. PG&E Co. has a fifty-two week low of $13.52 and a fifty-two week high of $21.72. The business has a 50 day moving average of $16.77 and a two-hundred day moving average of $17.36. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS 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 business's revenue was up 2.1% compared to the same quarter last year. During the same period last year, the company posted $0.37 EPS. Analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

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

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.