Susquehanna Fundamental Investments LLC Acquires New Stake in PG&E Co. (NYSE:PCG)

Susquehanna Fundamental Investments LLC bought a new position in shares of PG&E Co. (NYSE:PCG) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 402,476 shares of the utilities provider’s stock, valued at approximately $8,122,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc lifted its position in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 626 shares in the last quarter. UMB Bank n.a. increased its position in shares of 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 acquiring an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. raised its holdings in PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after acquiring an additional 4,819 shares in the last quarter. Sierra Ocean LLC acquired a new position in PG&E during the fourth quarter valued at approximately $111,000. Finally, Huntington National Bank boosted its position in PG&E by 24.9% during the fourth quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock valued at $122,000 after purchasing an additional 1,205 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of NYSE PCG opened at $17.14 on Monday. The business’s 50 day moving average is $16.68 and its 200-day moving average is $18.25. The firm has a market cap of $45.79 billion, a P/E ratio of 14.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.07). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. Equities research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. PG&E’s payout ratio is 9.17%.

Insider Activity at PG&E

In other news, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PCG. Guggenheim upped their price objective on PG&E from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays dropped their price target on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. Jefferies Financial Group upped their target price on shares of PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Finally, BMO Capital Markets reduced their price target on PG&E from $23.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, April 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus target price of $21.32.

PG&E Company 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.