Mutual of America Capital Management LLC Decreases Stake in PG&E Co. (NYSE:PCG)

Mutual of America Capital Management LLC lessened its stake in PG&E Co. (NYSE:PCG) by 0.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 261,860 shares of the utilities provider’s stock after selling 1,306 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PG&E were worth $5,284,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc boosted its stake in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after buying an additional 626 shares during the period. Commerce Bank boosted its stake in shares of PG&E by 1.5% in the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after buying an additional 712 shares during the period. Baker Tilly Wealth Management LLC boosted its stake in shares of PG&E by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after buying an additional 715 shares during the period. Continuum Advisory LLC boosted its stake in shares of PG&E by 11.4% in the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after buying an additional 769 shares during the period. Finally, iA Global Asset Management Inc. lifted its stake in PG&E by 2.6% during the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PCG shares. BMO Capital Markets boosted their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. UBS Group decreased their target price on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. Finally, Barclays decreased their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Price Performance

Shares of NYSE PCG opened at $16.42 on Tuesday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The stock has a 50 day moving average of $17.07 and a two-hundred day moving average of $19.03. The stock has a market cap of $43.86 billion, a P/E ratio of 14.28, a P/E/G ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter in the previous year, the business earned $0.47 earnings per share. On average, research analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is currently 8.70%.

Insider Activity

In related news, Director Arno Lockheart Harris bought 6,389 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

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.