Seven Grand Managers LLC Purchases Shares of 400,000 PG&E Co. (NYSE:PCG)

Seven Grand Managers LLC purchased a new position in PG&E Co. (NYSE:PCG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 400,000 shares of the utilities provider’s stock, valued at approximately $8,072,000. PG&E comprises approximately 3.7% of Seven Grand Managers LLC’s holdings, making the stock its 12th largest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Colonial Trust Co SC lifted its stake in PG&E by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after acquiring an additional 1,627 shares during the period. UMB Bank n.a. grew its holdings in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. Optiver Holding B.V. raised its position in PG&E by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 825 shares during the period. First Horizon Advisors Inc. lifted its stake in PG&E by 746.0% in the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after buying an additional 4,819 shares in the last quarter. Finally, Sierra Ocean LLC purchased a new stake in shares of PG&E during the fourth quarter worth approximately $111,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCG has been the subject of a number of recent research reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 price objective on shares of PG&E in a report on Friday, April 25th. Evercore ISI boosted their price target on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research note on Monday, April 28th. Guggenheim increased their target price on PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday, April 25th. Jefferies Financial Group lifted their target price on PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. Finally, 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 research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.13.

Insider Buying and Selling at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the business’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 completion of the sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. The trade was a 15.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now directly owns 14,864 shares in the company, 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. 0.14% of the stock is currently owned by insiders.

PG&E Price Performance

PG&E stock opened at $17.38 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 company has a fifty day simple moving average of $16.97 and a 200-day simple moving average of $17.96. The stock has a market cap of $46.50 billion, a P/E ratio of 15.11, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The business had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm’s quarterly revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm earned $0.37 earnings per share. Equities analysts expect 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 was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 9.17%.

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.