121,201 Shares in PG&E Co. (NYSE:PCG) Acquired by Gallo Partners LP

Gallo Partners LP acquired a new stake in shares of PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 121,201 shares of the utilities provider's stock, valued at approximately $2,446,000. PG&E makes up about 1.8% of Gallo Partners LP's investment portfolio, making the stock its 19th largest position.

Several other hedge funds also recently made changes to their positions in the business. Norges Bank bought a new stake in PG&E during the fourth quarter worth approximately $591,625,000. Capital Research Global Investors boosted its stake in shares of PG&E by 70.3% during the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after acquiring an additional 19,317,171 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of PG&E by 2.5% during 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 in the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of PG&E by 244.5% in the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider's stock worth $95,066,000 after acquiring an additional 3,340,599 shares during the last quarter. Finally, Geode Capital Management LLC raised its position 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 worth $1,046,462,000 after purchasing an additional 2,151,494 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Insiders Place Their Bets

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of the 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 completion of the sale, the executive vice president now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Arno Lockheart Harris bought 6,389 shares of the firm's stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company's stock, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.14% of the company's stock.

PG&E Stock Up 1.6 %

PCG traded up $0.26 during trading on Friday, reaching $16.93. 12,963,656 shares of the stock traded hands, compared to its average volume of 16,503,067. 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 Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The stock's 50-day simple moving average is $16.79 and its two-hundred day simple moving average is $18.16. The stock has a market cap of $45.30 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the company earned $0.37 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date of this dividend was Monday, March 31st. PG&E's dividend payout ratio is 9.17%.

Analysts Set New Price Targets

PCG has been the subject of a number of analyst reports. Morgan Stanley reaffirmed an "underweight" rating on shares of PG&E in a research note on Wednesday, April 23rd. BMO Capital Markets reduced their price target on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Jefferies Financial Group lifted their price objective on shares of PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. UBS Group lowered PG&E from a "buy" rating to a "neutral" rating and reduced their target price for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Evercore ISI lifted their price target on PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. 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. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $21.13.

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.