PG&E Co. (NYSE:PCG) Shares Bought by Pallas Capital Advisors LLC

Pallas Capital Advisors LLC boosted its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 506.4% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 109,633 shares of the utilities provider's stock after purchasing an additional 91,553 shares during the quarter. Pallas Capital Advisors LLC's holdings in PG&E were worth $1,883,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of PG&E by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PG&E by 4.3% during the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock valued at $1,046,462,000 after purchasing an additional 2,151,494 shares during the last quarter. Capital Research Global Investors raised its holdings in shares of PG&E by 70.3% during the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock valued at $944,540,000 after purchasing an additional 19,317,171 shares during the last quarter. Norges Bank purchased a new position in shares of PG&E during the fourth quarter valued at approximately $591,625,000. Finally, Northern Trust Corp raised its holdings in shares of PG&E by 6.8% during the fourth quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock valued at $385,962,000 after purchasing an additional 1,214,394 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the company's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.14% of the company's stock.

PG&E Stock Down 2.8%

NYSE:PCG traded down $0.41 during mid-day trading on Wednesday, reaching $14.38. The company's stock had a trading volume of 48,597,007 shares, compared to its average volume of 17,346,885. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The firm has a market capitalization of $38.48 billion, a PE ratio of 12.51, a price-to-earnings-growth ratio of 1.09 and a beta of 0.60. The stock has a fifty day moving average of $16.81 and a 200-day moving average of $17.41. PG&E Co. has a 1 year low of $14.07 and a 1 year high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $5.98 billion during the quarter, compared to analysts' expectations of $6.23 billion. During the same period in the previous year, the firm earned $0.37 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.70%. PG&E's dividend payout ratio is currently 9.17%.

Analyst Ratings Changes

A number of research firms have weighed in on PCG. Wells Fargo & Company reissued an "overweight" rating and issued a $24.00 target price on shares of PG&E in a report on Friday, April 25th. Guggenheim boosted their target price on PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Evercore ISI increased their price objective on shares of PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a research report on Monday, April 28th. UBS Group cut PG&E from a "buy" rating to a "neutral" rating and dropped their target price for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Jefferies Financial Group increased their target price on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $20.75.

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.