Parallel Advisors LLC Purchases 1,120 Shares of PG&E Co. (NYSE:PCG)

Parallel Advisors LLC boosted its stake in shares of PG&E Co. (NYSE:PCG) by 3.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,738 shares of the utilities provider’s stock after acquiring an additional 1,120 shares during the quarter. Parallel Advisors LLC’s holdings in PG&E were worth $762,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in PCG. Versant Capital Management Inc grew its holdings in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares during the last quarter. UMB Bank n.a. grew its holdings in PG&E by 61.5% during 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 last quarter. First Horizon Advisors Inc. grew its holdings 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 worth $110,000 after acquiring an additional 4,819 shares during the last quarter. Sierra Ocean LLC bought a new stake in PG&E during the 4th quarter worth about $111,000. Finally, Brooklyn Investment Group bought a new stake in PG&E during the 3rd quarter worth about $115,000. Institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on PCG shares. Morgan Stanley increased their price objective on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Thursday. Barclays cut their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $19.00 in a research report on Wednesday. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.05.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred 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 directly owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This 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 stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, with a total value 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. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

PG&E Stock Performance

Shares of NYSE:PCG opened at $17.20 on Friday. The company has a market capitalization of $45.93 billion, a price-to-earnings ratio of 14.95, a P/E/G ratio of 1.09 and a beta of 1.04. The firm’s 50 day simple moving average is $16.17 and its 200 day simple moving average is $18.81. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the company posted $0.47 EPS. As a group, sell-side analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. PG&E’s payout ratio is 8.70%.

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.