Vennlight Capital Management LP Acquires New Position in PG&E Co. (NYSE:PCG)

Vennlight Capital Management LP acquired a new stake in shares of PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 369,900 shares of the utilities provider's stock, valued at approximately $7,465,000. PG&E comprises approximately 7.1% of Vennlight Capital Management LP's investment portfolio, making the stock its 8th biggest position.

A number of other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted 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 acquiring an additional 6,151,233 shares during the last quarter. Geode Capital Management LLC grew its stake 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 buying an additional 2,151,494 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of PG&E by 70.3% in the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock valued at $944,540,000 after acquiring an additional 19,317,171 shares during the last quarter. Norges Bank purchased a new stake in PG&E during the 4th quarter valued at about $591,625,000. Finally, Northern Trust Corp grew its position in PG&E by 6.8% during the 4th quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock worth $385,962,000 after acquiring an additional 1,214,394 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Down 1.9%

PG&E stock traded down $0.33 on Thursday, hitting $17.07. 16,312,135 shares of the stock traded hands, compared to its average volume of 16,448,350. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The firm has a market cap of $45.67 billion, a P/E ratio of 14.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The business's fifty day simple moving average is $17.07 and its 200 day simple moving average is $17.87.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings results 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 net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. During the same period last year, the business earned $0.37 earnings per share. The company's revenue was up 2.1% on a year-over-year basis. As a group, sell-side analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction that occurred on 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 $2,614,306.80. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company's stock.

Analyst Ratings Changes

Several brokerages have weighed in on PCG. BMO Capital Markets lowered their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. JPMorgan Chase & Co. reiterated an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Wells Fargo & Company reissued an "overweight" rating and set a $24.00 price target on shares of PG&E in a research report on Friday, April 25th. Mizuho boosted their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday. Finally, Barclays cut their target price on PG&E from $23.00 to $22.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. One 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. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.75.

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.