Keybank National Association OH Sells 239,525 Shares of PG&E Co. (NYSE:PCG)

Keybank National Association OH lowered its stake in shares of PG&E Co. (NYSE:PCG) by 33.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 471,028 shares of the utilities provider’s stock after selling 239,525 shares during the quarter. Keybank National Association OH’s holdings in PG&E were worth $9,505,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PCG. International Assets Investment Management LLC boosted 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. Janney Montgomery Scott LLC boosted its holdings in PG&E by 17.6% in the third quarter. Janney Montgomery Scott LLC now owns 80,874 shares of the utilities provider’s stock worth $1,599,000 after acquiring an additional 12,092 shares in the last quarter. National Pension Service boosted its holdings in PG&E by 3.1% in the third quarter. National Pension Service now owns 2,893,429 shares of the utilities provider’s stock worth $57,203,000 after acquiring an additional 85,983 shares in the last quarter. Catalyst Capital Advisors LLC boosted its holdings 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 worth $86,000 after acquiring an additional 2,154 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in PG&E by 6.6% in the third quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider’s stock worth $53,816,000 after acquiring an additional 169,503 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. UBS Group lowered their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Barclays lowered their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Finally, Mizuho raised their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. One research 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. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Insider Activity at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now directly owns 183,635 shares in the company, valued at $3,006,104.95. The trade was a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was acquired 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 directly 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 company insiders.

PG&E Stock Up 1.6 %

Shares of PCG stock opened at $16.41 on Thursday. The stock has a 50 day moving average of $16.92 and a 200 day moving average of $18.99. 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 stock has a market cap of $43.82 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.09 and a beta of 0.99. PG&E Co. has a twelve month low of $14.99 and a twelve month 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 the consensus estimate of $0.31. The company 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 period last year, the business earned $0.47 earnings per share. As a group, sell-side analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

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 given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio 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.