First Pacific Advisors LP Sells 65,906 Shares of PG&E Co. (NYSE:PCG)

First Pacific Advisors LP lowered its position in PG&E Co. (NYSE:PCG) by 5.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,080,427 shares of the utilities provider’s stock after selling 65,906 shares during the quarter. First Pacific Advisors LP’s holdings in PG&E were worth $21,803,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares during the period. UMB Bank n.a. raised its holdings in shares of PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,506 shares during the period. Huntington National Bank lifted its stake in shares of PG&E by 32.9% during the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of PG&E by 746.0% during the 4th 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 last quarter. Finally, Sierra Ocean LLC purchased a new position in PG&E during the 4th quarter valued at $111,000. Institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCG. Mizuho increased their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $20.00 to $16.50 in a research note on Friday, February 14th. UBS Group lowered their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price target on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. 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 stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $22.23.

PG&E Stock Performance

Shares of NYSE:PCG opened at $15.97 on Monday. The firm has a 50 day moving average of $16.75 and a 200 day moving average of $18.96. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $42.65 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period in the previous year, the company posted $0.47 EPS. On average, sell-side analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared 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 0.63%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the sale, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.15% 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.