Tudor Investment Corp ET AL Invests $8.07 Million in PG&E Co. (NYSE:PCG)

Tudor Investment Corp ET AL acquired a new stake in PG&E Co. (NYSE:PCG - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 400,000 shares of the utilities provider's stock, valued at approximately $8,072,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PCG. Versant Capital Management Inc lifted its holdings in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after purchasing an additional 626 shares during the last quarter. UMB Bank n.a. lifted its position 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 acquiring an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of 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 acquiring an additional 4,819 shares during the period. Sierra Ocean LLC acquired a new position in shares of PG&E in the fourth quarter valued at approximately $111,000. Finally, Huntington National Bank increased its stake in shares of PG&E by 24.9% during the fourth quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock worth $122,000 after purchasing an additional 1,205 shares during the period. 78.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCG has been the topic of a number of research reports. BMO Capital Markets decreased their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Morgan Stanley reaffirmed an "underweight" rating on shares of PG&E in a research report on Wednesday, April 23rd. Barclays dropped their price objective on shares of PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. restated an "overweight" rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Finally, Guggenheim lifted their price target on shares of PG&E from $16.00 to $17.00 and gave the company a "neutral" rating 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 assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $21.13.

Insider Activity at PG&E

In other news, Director Arno Lockheart Harris bought 6,389 shares of the company's stock in a transaction on Thursday, February 20th. The stock was 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 trade represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares in the company, valued at $2,614,306.80. The trade was 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.

PG&E Price Performance

NYSE:PCG traded up $0.26 during mid-day trading on Friday, reaching $16.93. The stock had a trading volume of 12,963,656 shares, compared to its average volume of 16,517,885. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The stock has a market capitalization of $45.30 billion, a PE ratio of 14.72, a P/E/G ratio of 1.09 and a beta of 0.70. 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 stock has a 50-day simple moving average of $16.79 and a two-hundred day simple moving average of $18.15.

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

PG&E Dividend Announcement

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

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.