PG&E Co. (NYSE:PCG) Shares Sold by ING Groep NV

ING Groep NV decreased its holdings in PG&E Co. (NYSE:PCG) by 61.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 279,225 shares of the utilities provider’s stock after selling 439,640 shares during the period. ING Groep NV’s holdings in PG&E were worth $5,635,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. FMR LLC raised its holdings in PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after acquiring an additional 8,604,396 shares during the last quarter. State Street Corp raised its holdings in PG&E by 5.0% in 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 acquiring an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Geode Capital Management LLC raised its holdings in PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after acquiring an additional 536,914 shares during the last quarter. Finally, Wellington Management Group LLP raised its holdings in PG&E by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after acquiring an additional 1,822,835 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arno Lockheart Harris acquired 6,389 shares of the firm’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Performance

Shares of PCG stock opened at $15.94 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The stock has a market capitalization of $42.57 billion, a PE ratio of 13.86, a P/E/G ratio of 1.09 and a beta of 0.99. The firm has a 50 day moving average of $17.50 and a two-hundred day moving average of $19.10.

PG&E (NYSE:PCG) last issued 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. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the company posted $0.47 EPS. On average, research analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.63%. PG&E’s dividend payout ratio is presently 8.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PCG. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday. Barclays cut their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. BMO Capital Markets raised their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday. UBS Group cut their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $20.00 to $16.50 in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

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.