Weinberger Asset Management Inc Sells 1,031 Shares of PG&E Co. (NYSE:PCG)

Weinberger Asset Management Inc decreased its holdings in PG&E Co. (NYSE:PCG) by 1.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 81,715 shares of the utilities provider’s stock after selling 1,031 shares during the period. Weinberger Asset Management Inc’s holdings in PG&E were worth $1,649,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. FMR LLC increased its stake in shares of PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp increased its stake in shares of PG&E by 5.0% in 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 purchasing an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Geode Capital Management LLC grew its position in PG&E by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after acquiring an additional 536,914 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in PG&E by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after acquiring an additional 1,822,835 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of research reports. UBS Group reduced their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Mizuho boosted their price objective on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. According to MarketBeat, PG&E currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Up 0.3 %

Shares of 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 company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The stock’s 50-day moving average is $17.42 and its 200 day moving average is $19.10. The firm has a market cap of $42.86 billion, a price-to-earnings ratio of 13.95, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the prior year, the company earned $0.47 EPS. Equities research analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.62%. PG&E’s payout ratio is 8.70%.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was 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.

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.