Arno Lockheart Harris Acquires 6,389 Shares of PG&E Co. (NYSE:PCG) Stock

PG&E Co. (NYSE:PCG) Director Arno Lockheart Harris acquired 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

PG&E Price Performance

Shares of NYSE:PCG opened at $15.94 on Friday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The stock has a fifty day moving average of $17.50 and a 200-day moving average of $19.11. 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 quick ratio of 1.00 and a current ratio of 1.05.

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

PG&E Dividend Announcement

The firm also recently announced 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%. PG&E’s payout ratio is currently 8.70%.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PCG shares. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $16.50 in a research note on Friday, February 14th. Barclays decreased their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Finally, BMO Capital Markets increased their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Institutional Trading of PG&E

Hedge funds have recently modified their holdings of the business. Versant Capital Management Inc lifted its holdings in shares of 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 in the last quarter. True Wealth Design LLC lifted its holdings in shares of PG&E by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 1,690 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of PG&E by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,627 shares in the last quarter. UMB Bank n.a. lifted 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 valued at $80,000 after purchasing an additional 1,506 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in shares of 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 in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

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.