Occudo Quantitative Strategies LP Has $1.05 Million Stock Position in PG&E Co. (NYSE:PCG)

Occudo Quantitative Strategies LP raised its stake in PG&E Co. (NYSE:PCG - Free Report) by 117.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 52,083 shares of the utilities provider's stock after acquiring an additional 28,128 shares during the quarter. Occudo Quantitative Strategies LP's holdings in PG&E were worth $1,051,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCG. Czech National Bank lifted its stake 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. New York State Teachers Retirement System boosted its holdings in 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 buying an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC acquired a new stake in PG&E in the 4th quarter valued at approximately $514,000. Atria Wealth Solutions Inc. acquired a new position in shares of PG&E during the 4th quarter worth approximately $466,000. Finally, Merit Financial Group LLC bought a new stake in shares of PG&E during the 4th quarter worth $336,000. Hedge funds and other institutional investors own 78.56% of the company's stock.

PG&E Price Performance

PG&E stock traded down $0.11 during midday trading on Monday, reaching $17.77. 2,805,532 shares of the company were exchanged, compared to its average volume of 16,430,483. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a market capitalization of $47.53 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 1.09 and a beta of 0.63. The firm's 50-day simple moving average is $17.00 and its 200-day simple moving average is $17.91. 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 announced its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business's revenue for the quarter was up 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.37 earnings per share. On average, analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The company 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. The ex-dividend date was Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.56%. PG&E's dividend payout ratio (DPR) is 9.17%.

Analysts Set New Price Targets

A number of brokerages have weighed in on PCG. Wells Fargo & Company reiterated an "overweight" rating and issued a $24.00 target price on shares of PG&E in a report on Friday, April 25th. JPMorgan Chase & Co. reaffirmed an "overweight" rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Evercore ISI lifted their price objective on PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Guggenheim boosted 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. Finally, Barclays reduced their price target 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. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, PG&E presently has an average rating of "Moderate Buy" and a consensus price target of $21.13.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares in the company, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm'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 purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39% increase in their position. The disclosure for this purchase can be found here. Insiders own 0.14% of the company's stock.

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.