PG&E Co. (NYSE:PCG) Shares Sold by ING Groep NV

ING Groep NV cut its holdings in PG&E Co. (NYSE:PCG) by 61.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 279,225 shares of the utilities provider’s stock after selling 439,640 shares during the quarter. ING Groep NV’s holdings in PG&E were worth $5,635,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of PCG. Versant Capital Management Inc increased 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 purchasing an additional 626 shares during the period. UMB Bank n.a. increased its stake in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. Blue Trust Inc. increased its stake in PG&E by 77.7% in the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after purchasing an additional 1,834 shares during the period. Catalyst Capital Advisors LLC increased its stake in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 2,154 shares during the period. Finally, Huntington National Bank increased its stake in PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,195 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCG has been the topic of several analyst reports. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $20.00 to $16.50 in a report on Friday, February 14th. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Barclays lowered their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. UBS Group lowered their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. Finally, BMO Capital Markets lifted their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $22.23.

PG&E Stock Up 1.6 %

Shares of NYSE PCG opened at $15.94 on Friday. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The company has a market capitalization of $42.57 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. 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 firm’s 50-day moving average is $17.50 and its two-hundred day moving average is $19.10.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Equities analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.63%. PG&E’s dividend payout ratio is presently 8.70%.

Insider Activity

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. Company 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.