Graham Capital Management L.P. Invests $830,000 in PG&E Co. (NYSE:PCG)

Graham Capital Management L.P. bought a new stake in PG&E Co. (NYSE:PCG - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,108 shares of the utilities provider's stock, valued at approximately $830,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCG. Colonial Trust Co SC increased its position in PG&E by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares during the period. UMB Bank n.a. boosted its holdings in PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after buying an additional 1,506 shares during the last quarter. Optiver Holding B.V. boosted its holdings in PG&E by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after buying an additional 825 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after buying an additional 4,819 shares during the last quarter. Finally, Sierra Ocean LLC bought a new position in PG&E during the fourth quarter worth about $111,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PCG has been the subject of several research analyst reports. Barclays decreased their price objective on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Morgan Stanley reiterated an "underweight" rating on shares of PG&E in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. reiterated an "overweight" rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. Evercore ISI boosted their target price on PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Finally, Wells Fargo & Company restated an "overweight" rating and issued a $24.00 target price on shares of PG&E in a research note on Friday, April 25th. 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 stock. According to MarketBeat, PG&E has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

PG&E Stock Performance

NYSE PCG traded up $0.51 on Friday, reaching $17.85. The stock had a trading volume of 15,628,026 shares, compared to its average volume of 16,469,153. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a fifty day moving average of $17.00 and a two-hundred day moving average of $17.94. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a market cap of $47.76 billion, a P/E ratio of 15.52, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

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

PG&E Announces Dividend

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

Insider Buying and Selling

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction 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 purchase, the director now directly owns 14,864 shares of the company's stock, valued at $232,770.24. This trade represents a 75.39% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, 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 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 disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

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.