US Bancorp DE Purchases 88,118 Shares of PG&E Co. (NYSE:PCG)

US Bancorp DE increased its position in shares of PG&E Co. (NYSE:PCG) by 63.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 227,937 shares of the utilities provider’s stock after buying an additional 88,118 shares during the period. US Bancorp DE’s holdings in PG&E were worth $4,600,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Versant Capital Management Inc raised its stake 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 buying an additional 626 shares during the last quarter. UMB Bank n.a. raised its stake in PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after buying an additional 1,506 shares during the last quarter. Catalyst Capital Advisors LLC raised its stake in PG&E by 98.5% during the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after buying an additional 2,154 shares during the last quarter. Huntington National Bank raised its stake in PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after buying an additional 1,195 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after buying an additional 4,819 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost 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 $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on PCG shares. Barclays decreased their price target on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday, January 27th. BMO Capital Markets lifted their price target on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Guggenheim downgraded shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $16.50 in a research note on Friday, February 14th. Finally, UBS Group decreased their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.23.

PG&E Stock Up 1.6 %

Shares of NYSE PCG opened at $16.41 on Thursday. The stock has a market capitalization of $43.82 billion, a P/E ratio of 14.27, a P/E/G ratio of 1.09 and a beta of 0.99. The company has a 50-day moving average price of $16.92 and a 200-day moving average price of $18.99. PG&E Co. has a 1 year low of $14.99 and a 1 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.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same period last year, the company earned $0.47 earnings per share. On average, equities research analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

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.