Potentia Wealth Takes Position in PG&E Co. (NYSE:PCG)

Potentia Wealth purchased a new position in PG&E Co. (NYSE:PCG) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 59,533 shares of the utilities provider’s stock, valued at approximately $1,201,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCG. Versant Capital Management Inc lifted its stake in PG&E by 68.3% in the fourth 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 last quarter. UMB Bank n.a. increased its holdings in shares of PG&E by 61.5% in the 4th 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 period. First Horizon Advisors Inc. boosted its stake in PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 4,819 shares during the period. Sierra Ocean LLC acquired a new position in PG&E during the 4th quarter valued at about $111,000. Finally, Brooklyn Investment Group bought a new position in PG&E in the 3rd quarter worth about $115,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Buying and Selling

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

PG&E Trading Up 1.6 %

Shares of NYSE PCG opened at $17.16 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 one year low of $14.99 and a one year high of $21.72. The business has a 50-day moving average price of $16.18 and a two-hundred day moving average price of $18.75. The firm has a market capitalization of $45.83 billion, a PE ratio of 14.92, a PEG ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last posted 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. The business had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same period last year, the company posted $0.47 earnings per share. As a group, analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PCG. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. BMO Capital Markets boosted their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Finally, Morgan Stanley raised their target price on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.05.

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.