Corient Private Wealth LLC Acquires 32,043 Shares of PG&E Co. (NYSE:PCG)

Corient Private Wealth LLC grew its holdings in PG&E Co. (NYSE:PCG) by 21.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 182,541 shares of the utilities provider’s stock after acquiring an additional 32,043 shares during the quarter. Corient Private Wealth LLC’s holdings in PG&E were worth $3,683,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Czech National Bank boosted its position in shares of PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after acquiring an additional 38,590 shares during the period. New York State Teachers Retirement System raised its stake in shares of PG&E by 8.2% in the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after purchasing an additional 148,860 shares in the last quarter. State Street Corp raised its stake in shares of PG&E by 5.0% in the third 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. McElhenny Sheffield Capital Management LLC acquired a new position in shares of PG&E in the fourth quarter valued at $514,000. Finally, Atria Wealth Solutions Inc. acquired a new position in shares of PG&E in the fourth quarter valued at $466,000. 78.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on PCG shares. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Morgan Stanley upped their target price on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Mizuho increased 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. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.05.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm’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 $232,770.24. The trade was 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 currently owned by corporate insiders.

PG&E Stock Performance

Shares of NYSE:PCG opened at $16.91 on Friday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The firm has a market cap of $45.16 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The business has a fifty day moving average of $16.16 and a 200-day moving average of $18.78.

PG&E (NYSE:PCG) last announced its 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 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 analyst estimates of $7.29 billion. During the same period last year, the company posted $0.47 earnings per share. On average, equities research analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

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 paid a $0.025 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s dividend payout ratio (DPR) is presently 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.