PG&E Co. (NYSE:PCG) Shares Bought by Wexford Capital LP

Wexford Capital LP lifted its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 55.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 252,249 shares of the utilities provider's stock after acquiring an additional 90,002 shares during the period. PG&E accounts for about 0.8% of Wexford Capital LP's holdings, making the stock its 19th biggest position. Wexford Capital LP's holdings in PG&E were worth $5,090,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. New York State Teachers Retirement System grew its position in shares of PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock worth $39,837,000 after acquiring an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in PG&E in the fourth quarter valued at $514,000. Atria Wealth Solutions Inc. acquired a new stake in PG&E in the fourth quarter valued at $466,000. Merit Financial Group LLC acquired a new stake in PG&E in the fourth quarter valued at $336,000. Finally, Mediolanum International Funds Ltd raised its stake in shares of PG&E by 327.7% during the 4th quarter. Mediolanum International Funds Ltd now owns 167,580 shares of the utilities provider's stock worth $3,365,000 after buying an additional 128,396 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, 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 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 legal filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company's stock.

PG&E Price Performance

PG&E stock traded down $0.33 during midday trading on Thursday, reaching $17.07. 16,312,135 shares of the company were exchanged, compared to its average volume of 16,448,350. The company has a market capitalization of $45.67 billion, a price-to-earnings ratio of 14.84, a P/E/G ratio of 1.09 and a beta of 0.63. The firm's 50-day simple moving average is $17.07 and its 200-day simple moving average is $17.87. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $5.98 billion for the quarter, compared to analysts' expectations of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. On average, analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

Wall Street Analysts Forecast Growth

PCG has been the subject of several research reports. Morgan Stanley cut their price target on PG&E from $18.50 to $18.00 and set an "underweight" rating for the company in a research note on Thursday. Evercore ISI lifted their price target on PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. BMO Capital Markets cut their price target on PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Finally, Guggenheim lifted their price target on PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price 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.