McElhenny Sheffield Capital Management LLC Makes New $514,000 Investment in PG&E Co. (NYSE:PCG)

McElhenny Sheffield Capital Management LLC purchased a new stake in shares of PG&E Co. (NYSE:PCG) in the fourth quarter, Holdings Channel.com reports. The firm purchased 25,456 shares of the utilities provider’s stock, valued at approximately $514,000.

Other institutional investors have also recently made changes to their positions in the company. FMR LLC boosted its stake in PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after buying an additional 8,604,396 shares during the period. King Street Capital Management L.P. purchased a new stake in shares of PG&E in the 2nd quarter valued at about $1,964,250,000. State Street Corp boosted its position in shares of PG&E by 5.0% during the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after acquiring an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

Analyst Ratings Changes

Several brokerages have issued reports on PCG. BMO Capital Markets assumed coverage on shares of PG&E in a research report on Monday, January 13th. They set an “outperform” rating and a $21.00 target price for the company. UBS Group dropped their price objective on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Morgan Stanley increased their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Jefferies Financial Group began coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Finally, Mizuho increased their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average target price of $22.64.

PG&E Price Performance

PCG opened at $17.02 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. The stock’s 50 day simple moving average is $19.99 and its 200 day simple moving average is $19.47. The firm has a market cap of $44.51 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.20 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.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter last year, the business earned $0.24 earnings per share. The business’s revenue was up .9% on a year-over-year basis. As a group, analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.025 per share. 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 dividend yield of 0.59%. The ex-dividend date of this dividend was Tuesday, December 31st. PG&E’s dividend payout ratio is currently 7.81%.

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.