Metis Global Partners LLC trimmed its position in shares of PG&E Co. (NYSE:PCG - Free Report) by 38.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 67,789 shares of the utilities provider's stock after selling 42,945 shares during the period. Metis Global Partners LLC's holdings in PG&E were worth $1,222,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Raymond James Trust N.A. raised its holdings in shares of PG&E by 4.2% during the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider's stock valued at $307,000 after buying an additional 680 shares during the period. Bleakley Financial Group LLC lifted its position in shares of PG&E by 1.5% during the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider's stock worth $817,000 after purchasing an additional 691 shares in the last quarter. Signaturefd LLC boosted its stake in shares of PG&E by 10.9% in the third quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider's stock valued at $130,000 after purchasing an additional 794 shares during the period. Glenmede Trust Co. NA grew its holdings in PG&E by 5.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider's stock valued at $258,000 after purchasing an additional 835 shares in the last quarter. Finally, Caprock Group LLC increased its stake in PG&E by 5.1% during the 4th quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider's stock worth $370,000 after buying an additional 999 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at PG&E
In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on PCG shares. StockNews.com upgraded PG&E from a "sell" rating to a "hold" rating in a research note on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on shares of PG&E from $18.00 to $19.00 and gave the company a "neutral" rating in a research note on Tuesday, April 23rd. Barclays increased their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an "overweight" rating in a research note on Friday, April 26th. Finally, The Goldman Sachs Group initiated coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a "buy" rating and a $21.00 price objective on the stock. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and a consensus price target of $19.11.
Check Out Our Latest Analysis on PG&E
PG&E Price Performance
PG&E stock traded up $0.06 during trading hours on Thursday, hitting $17.90. 11,931,190 shares of the company traded hands, compared to its average volume of 15,208,354. The firm has a market cap of $51.54 billion, a P/E ratio of 15.98 and a beta of 1.26. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The firm's 50-day simple moving average is $16.75 and its two-hundred day simple moving average is $16.98. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.32.
PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analysts' expectations of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The firm's quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the company posted $0.29 earnings per share. As a group, analysts forecast that PG&E Co. will post 1.35 earnings per share for the current fiscal year.
PG&E Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. The ex-dividend date was Wednesday, March 27th. PG&E's dividend payout ratio is currently 3.57%.
PG&E Company Profile
(
Free Report)
PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.
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