Amalgamated Bank Lowers Stock Position in PG&E Co. (NYSE:PCG)

Amalgamated Bank cut its stake in shares of PG&E Co. (NYSE:PCG) by 1.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 414,145 shares of the utilities provider’s stock after selling 5,874 shares during the quarter. Amalgamated Bank’s holdings in PG&E were worth $8,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of PCG. Blue Trust Inc. lifted its holdings in shares of PG&E by 77.7% during the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares during the last quarter. International Assets Investment Management LLC raised its position in PG&E by 4,623.1% during the third quarter. International Assets Investment Management LLC now owns 34,006 shares of the utilities provider’s stock valued at $672,000 after purchasing an additional 33,286 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in PG&E by 41.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 145,122 shares of the utilities provider’s stock worth $2,876,000 after purchasing an additional 42,483 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of PG&E by 38.0% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 78,712 shares of the utilities provider’s stock worth $1,556,000 after purchasing an additional 21,658 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its position in shares of PG&E by 7.0% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 268,671 shares of the utilities provider’s stock valued at $5,396,000 after purchasing an additional 17,580 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling at PG&E

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were bought 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 directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PCG shares. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Barclays lowered their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. BMO Capital Markets increased 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, February 18th. Mizuho lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

PG&E Stock Performance

PG&E stock opened at $16.03 on Thursday. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a market cap of $42.81 billion, a P/E ratio of 13.93, a P/E/G ratio of 1.09 and a beta of 0.99. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The firm has a 50-day moving average of $17.35 and a 200-day moving average of $19.09.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share 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 return on equity of 10.94% and a net margin of 10.27%. During the same quarter last year, the business posted $0.47 EPS. Sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.62%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is currently 8.70%.

About PG&E

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.