Atlas Capital Advisors Inc. Lowers Holdings in PG&E Co. (NYSE:PCG)

Atlas Capital Advisors Inc. lowered its stake in shares of PG&E Co. (NYSE:PCG) by 39.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,058 shares of the utilities provider’s stock after selling 9,664 shares during the period. Atlas Capital Advisors Inc.’s holdings in PG&E were worth $304,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of PCG. Norges Bank acquired a new stake in PG&E during the fourth quarter worth about $591,625,000. Vanguard Group Inc. grew its stake in shares of PG&E by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares during the period. State Street Corp increased its holdings in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Brookfield Corp ON increased its holdings in shares of PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after purchasing an additional 3,958,495 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp boosted its holdings in PG&E by 244.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock worth $95,066,000 after buying an additional 3,340,599 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $16.46 on Friday. 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 $43.97 billion, a P/E ratio of 14.31, a PEG ratio of 1.09 and a beta of 1.04. The company has a 50-day moving average price of $16.25 and a 200 day moving average price of $18.59. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72.

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

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is presently 8.70%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on PCG shares. Morgan Stanley lifted their price objective on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. UBS Group lowered shares of PG&E from a “buy” rating to a “neutral” rating and cut their price target for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Barclays cut their price objective 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. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.05.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris bought 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, for a total transaction of $100,051.74. Following the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction 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 transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate 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.