Metis Global Partners LLC Trims Position in PG&E Co. (NYSE:PCG)

Metis Global Partners LLC decreased its position in shares of PG&E Co. (NYSE:PCG) by 38.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 67,789 shares of the utilities provider’s stock after selling 42,945 shares during the quarter. Metis Global Partners LLC’s holdings in PG&E were worth $1,222,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently modified their holdings of PCG. Planned Solutions Inc. acquired a new position in shares of PG&E in the 4th quarter valued at $37,000. CVA Family Office LLC acquired a new position in PG&E in the fourth quarter valued at about $43,000. Millburn Ridgefield Corp purchased a new position in PG&E during the third quarter worth about $44,000. Catalyst Capital Advisors LLC acquired a new stake in shares of PG&E during the third quarter valued at about $44,000. Finally, Headlands Technologies LLC purchased a new stake in shares of PG&E in the 3rd quarter valued at approximately $47,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

PCG has been the subject of several research reports. Barclays lifted their target price on shares of PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, April 26th. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. The Goldman Sachs Group started coverage on PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. Finally, JPMorgan Chase & Co. boosted their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Insider Activity

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Up 0.6 %

PG&E stock opened at $17.84 on Thursday. The stock has a market cap of $51.37 billion, a PE ratio of 15.93 and a beta of 1.26. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. The stock’s fifty day moving average is $16.73 and its two-hundred day moving average is $16.97. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.32.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.29 earnings per share. On average, sell-side analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s dividend payout ratio (DPR) is currently 3.57%.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.