Nearwater Capital Markets Ltd Takes $15.03 Million Position in PG&E Co. (NYSE:PCG)

Nearwater Capital Markets Ltd purchased a new stake in shares of PG&E Co. (NYSE:PCG - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 744,602 shares of the utilities provider's stock, valued at approximately $15,026,000.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC lifted its stake in shares of PG&E by 8.0% in the 3rd quarter. Barclays PLC now owns 5,692,521 shares of the utilities provider's stock valued at $112,541,000 after purchasing an additional 420,133 shares during the last quarter. Czech National Bank lifted its position in PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock valued at $9,566,000 after buying an additional 38,590 shares during the last quarter. Wedmont Private Capital boosted its stake in PG&E by 7.0% during the fourth quarter. Wedmont Private Capital now owns 24,459 shares of the utilities provider's stock worth $494,000 after buying an additional 1,591 shares during the period. Pallas Capital Advisors LLC increased its position in shares of PG&E by 35.3% during the fourth quarter. Pallas Capital Advisors LLC now owns 18,080 shares of the utilities provider's stock valued at $365,000 after acquiring an additional 4,720 shares during the last quarter. Finally, Oak Thistle LLC purchased a new stake in shares of PG&E in the 4th quarter valued at approximately $950,000. Hedge funds and other institutional investors own 78.56% of the company's stock.

PG&E Trading Down 0.8%

NYSE:PCG traded down $0.15 on Monday, hitting $17.73. 3,059,888 shares of the stock were exchanged, compared to its average volume of 16,431,458. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The stock has a market cap of $47.42 billion, a PE ratio of 15.42, a PEG 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 stock has a fifty day moving average of $17.00 and a 200-day moving average of $17.91.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data 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). The business 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%. PG&E'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 firm earned $0.37 earnings per share. As a group, equities analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Monday, March 31st. PG&E's dividend payout ratio (DPR) is presently 9.17%.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the company's stock in a transaction dated Thursday, February 20th. The shares were bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction that occurred on Tuesday, April 29th. The stock was 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 directly owns 151,116 shares in the company, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. UBS Group lowered shares of PG&E from a "buy" rating to a "neutral" rating and cut their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Jefferies Financial Group lifted their price target on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Morgan Stanley reiterated an "underweight" rating on shares of PG&E in a research note on Wednesday, April 23rd. Evercore ISI boosted their price target on shares of PG&E from $15.00 to $17.00 and gave the stock 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 price objective on shares of PG&E in a research report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, PG&E presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.13.

About PG&E

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.