NorthRock Partners LLC Makes New Investment in PG&E Co. (NYSE:PCG)

NorthRock Partners LLC acquired a new stake in PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 14,882 shares of the utilities provider's stock, valued at approximately $300,000.

A number of other hedge funds have also modified their holdings of PCG. Occudo Quantitative Strategies LP grew its position in PG&E by 117.4% during the 4th quarter. Occudo Quantitative Strategies LP now owns 52,083 shares of the utilities provider's stock worth $1,051,000 after purchasing an additional 28,128 shares during the last quarter. OMERS ADMINISTRATION Corp grew its holdings in shares of PG&E by 20.3% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 84,806 shares of the utilities provider's stock worth $1,711,000 after buying an additional 14,305 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of PG&E by 4.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 243,812 shares of the utilities provider's stock worth $4,920,000 after buying an additional 10,363 shares during the last quarter. Investment Management Corp of Ontario increased its position in PG&E by 26.2% in the 4th quarter. Investment Management Corp of Ontario now owns 85,145 shares of the utilities provider's stock valued at $1,718,000 after acquiring an additional 17,689 shares during the period. Finally, Graham Capital Management L.P. purchased a new stake in PG&E during the 4th quarter valued at approximately $830,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Barclays dropped their target price on PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. BMO Capital Markets dropped their price objective on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Mizuho raised their target price on shares of PG&E from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $24.00 target price on shares of PG&E in a report on Friday, April 25th. Finally, UBS Group cut shares of PG&E from a "buy" rating to a "neutral" rating and cut their price target for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $20.71.

Insider Activity at PG&E

In related news, 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 purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Carla J. Peterman sold 32,519 shares of the company's 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 completion of the transaction, the executive vice president now owns 151,116 shares in the company, valued at approximately $2,614,306.80. This trade 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.

PG&E Price Performance

NYSE PCG traded up $0.01 during mid-day trading on Tuesday, hitting $17.75. The stock had a trading volume of 10,312,987 shares, compared to its average volume of 16,447,742. The company has a 50 day simple moving average of $17.06 and a 200 day simple moving average of $17.89. The company has a market cap of $47.49 billion, a price-to-earnings ratio of 15.43, a P/E/G ratio of 1.09 and a beta of 0.63. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. 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 released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) 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 analyst estimates of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company's quarterly revenue was up 2.1% compared to the same quarter last year. During the same period last year, the firm earned $0.37 EPS. Equities analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.025 per share. The ex-dividend date was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.56%. PG&E's dividend payout ratio is currently 9.17%.

PG&E Company 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.