Weinberger Asset Management Inc Lowers Position in PG&E Co. (NYSE:PCG)

Weinberger Asset Management Inc cut its stake in PG&E Co. (NYSE:PCG) by 1.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 81,715 shares of the utilities provider’s stock after selling 1,031 shares during the quarter. Weinberger Asset Management Inc’s holdings in PG&E were worth $1,649,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its stake 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 during the last quarter. UMB Bank n.a. raised its stake 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 worth $80,000 after purchasing an additional 1,506 shares during the last quarter. Blue Trust Inc. raised its stake in shares of PG&E by 77.7% in the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after purchasing an additional 1,834 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in shares of PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 2,154 shares during the last quarter. Finally, Huntington National Bank increased its position in shares of PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,195 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Price Performance

PG&E stock opened at $16.05 on Tuesday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The business has a fifty day moving average price of $17.42 and a 200-day moving average price of $19.10. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a market capitalization of $42.86 billion, a P/E ratio of 13.95, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm 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 earned $0.47 earnings per share. As a group, equities research analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is currently 8.70%.

Insider Transactions at PG&E

In other PG&E news, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PCG. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. UBS Group decreased their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. BMO Capital Markets increased their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $16.50 in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus 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.