American Century Companies Inc. Trims Position in PG&E Co. (NYSE:PCG)

American Century Companies Inc. trimmed its position in PG&E Co. (NYSE:PCG) by 0.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,210,598 shares of the utilities provider’s stock after selling 1,392 shares during the period. American Century Companies Inc.’s holdings in PG&E were worth $24,430,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Versant Capital Management Inc grew 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 valued at $31,000 after buying an additional 626 shares during the period. UMB Bank n.a. boosted its stake in shares of PG&E by 61.5% during the 4th quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after acquiring an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. grew its position in shares of PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 4,819 shares during the period. Sierra Ocean LLC purchased a new stake in shares of PG&E in the 4th quarter worth $111,000. Finally, Exchange Traded Concepts LLC raised its holdings in PG&E by 32.4% in the 4th quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider’s stock worth $126,000 after purchasing an additional 1,526 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insider Activity at PG&E

In other news, EVP Carla J. Peterman sold 32,521 shares of the company’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 sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Arno Lockheart Harris purchased 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 transaction, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Morgan Stanley boosted their price target on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. BMO Capital Markets boosted their price objective on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. UBS Group lowered shares of PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Finally, Barclays decreased their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average price target of $22.05.

PG&E Stock Performance

Shares of NYSE PCG opened at $16.98 on Friday. The company has a market cap of $45.35 billion, a P/E ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm’s fifty day moving average is $16.21 and its two-hundred day moving average is $18.68.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 for the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. As a group, analysts anticipate that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.025 per share. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s dividend payout ratio is currently 8.70%.

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.