UMB Bank n.a. Increases Stock Position in PG&E Co. (NYSE:PCG)

UMB Bank n.a. raised its position in PG&E Co. (NYSE:PCG) by 61.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,956 shares of the utilities provider’s stock after acquiring an additional 1,506 shares during the quarter. UMB Bank n.a.’s holdings in PG&E were worth $80,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Artemis Investment Management LLP lifted its stake in PG&E by 0.9% in the fourth quarter. Artemis Investment Management LLP now owns 4,515,569 shares of the utilities provider’s stock worth $91,124,000 after acquiring an additional 39,028 shares during the period. McElhenny Sheffield Capital Management LLC purchased a new stake in shares of PG&E in the 4th quarter worth about $514,000. Clarius Group LLC boosted its stake in shares of PG&E by 8.2% during the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider’s stock valued at $223,000 after purchasing an additional 833 shares in the last quarter. Moss Adams Wealth Advisors LLC purchased a new position in shares of PG&E during the fourth quarter valued at about $207,000. Finally, HB Wealth Management LLC lifted its holdings in PG&E by 4.4% in the fourth quarter. HB Wealth Management LLC now owns 28,456 shares of the utilities provider’s stock worth $574,000 after buying an additional 1,187 shares during the period. 78.56% of the stock is owned by institutional investors.

PG&E Stock Up 1.7 %

PCG stock opened at $16.52 on Friday. 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 Co. has a 1-year low of $15.94 and a 1-year high of $21.72. The stock has a market capitalization of $43.19 billion, a P/E ratio of 12.90, a P/E/G ratio of 1.15 and a beta of 0.98. The business has a fifty day moving average price of $19.55 and a 200-day moving average price of $19.43.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the prior year, the business earned $0.24 EPS. The business’s revenue for the quarter was up .9% compared to the same quarter last year. Equities analysts forecast that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

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

Insider Activity

In other news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

Analyst Ratings Changes

PCG has been the topic of a number of research analyst reports. Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. UBS Group lowered their price objective on PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group began coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. BMO Capital Markets assumed coverage on shares of PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Barclays lowered their target price on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average 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.