EverSource Wealth Advisors LLC Purchases 996 Shares of PG&E Co. (NYSE:PCG)

EverSource Wealth Advisors LLC boosted its position in PG&E Co. (NYSE:PCG) by 14.3% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,971 shares of the utilities provider’s stock after purchasing an additional 996 shares during the period. EverSource Wealth Advisors LLC’s holdings in PG&E were worth $161,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCG. Sequoia Financial Advisors LLC lifted its holdings in PG&E by 16.5% during the fourth quarter. Sequoia Financial Advisors LLC now owns 40,332 shares of the utilities provider’s stock worth $814,000 after acquiring an additional 5,703 shares during the period. HighTower Advisors LLC increased its position in shares of PG&E by 5.1% during the 4th quarter. HighTower Advisors LLC now owns 151,670 shares of the utilities provider’s stock valued at $3,061,000 after purchasing an additional 7,322 shares during the last quarter. Personal CFO Solutions LLC bought a new stake in shares of PG&E during the 4th quarter worth $246,000. Amundi boosted its holdings in shares of PG&E by 2.1% in the 4th quarter. Amundi now owns 5,106,892 shares of the utilities provider’s stock worth $98,308,000 after buying an additional 106,696 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in PG&E by 8.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 98,655 shares of the utilities provider’s stock valued at $1,991,000 after buying an additional 7,366 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the topic of a number of research analyst reports. BMO Capital Markets boosted their target price 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. JPMorgan Chase & Co. reissued an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and lowered their target price for the company from $20.00 to $16.50 in a research note on Friday, February 14th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Barclays lowered their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.23.

PG&E Stock Performance

NYSE PCG opened at $17.12 on Tuesday. The company’s 50 day simple moving average is $16.31 and its two-hundred day simple moving average is $18.85. The stock has a market capitalization of $45.72 billion, a PE ratio of 14.88, a P/E/G ratio of 1.09 and a beta of 1.04. 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 Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

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, hitting analysts’ consensus estimates 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 the consensus estimate of $7.29 billion. During the same quarter last year, the business posted $0.47 earnings per share. Analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders 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 dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s payout ratio is 8.70%.

Insider Buying and Selling

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at $3,006,104.95. The trade was a 15.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arno Lockheart Harris bought 6,389 shares of the business’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 completion of the transaction, the director now directly 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 owned by company insiders.

PG&E 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.