HB Wealth Management LLC Grows Holdings in PG&E Co. (NYSE:PCG)

HB Wealth Management LLC lifted its position in shares of PG&E Co. (NYSE:PCG) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,456 shares of the utilities provider’s stock after buying an additional 1,187 shares during the quarter. HB Wealth Management LLC’s holdings in PG&E were worth $574,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Versant Capital Management Inc boosted its position in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of PG&E by 77.7% during the 3rd 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 period. William B. Walkup & Associates Inc. acquired a new stake in shares of PG&E during the second quarter worth $74,000. Catalyst Capital Advisors LLC grew its position 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 valued at $86,000 after purchasing an additional 2,154 shares during the period. Finally, Huntington National Bank increased its stake in PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after purchasing an additional 1,195 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PCG stock opened at $16.45 on Thursday. The firm has a fifty day moving average of $19.83 and a two-hundred day moving average of $19.48. The firm has a market cap of $43.01 billion, a P/E ratio of 12.85, a P/E/G ratio of 1.19 and a beta of 0.98. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.72. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the company earned $0.24 earnings per share. PG&E’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.61%. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is currently 7.81%.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated 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 completion of the transaction, 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 filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on PCG. BMO Capital Markets assumed coverage on PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price target on the stock. Barclays decreased their target price on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Tuesday, December 17th. Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Mizuho lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, UBS Group dropped their price objective on PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $22.64.

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.