Cornercap Investment Counsel Inc. Has $1.60 Million Stock Holdings in PG&E Co. (NYSE:PCG)

Cornercap Investment Counsel Inc. lessened its holdings in PG&E Co. (NYSE:PCG) by 3.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,031 shares of the utilities provider’s stock after selling 2,984 shares during the period. Cornercap Investment Counsel Inc.’s holdings in PG&E were worth $1,595,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Versant Capital Management Inc boosted its stake in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares in the last quarter. UMB Bank n.a. raised its position in shares of PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after purchasing an additional 1,506 shares during the period. First Horizon Advisors Inc. lifted its stake in shares of PG&E by 746.0% in 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. Sierra Ocean LLC bought a new stake in shares of PG&E during the 4th quarter worth $111,000. Finally, Exchange Traded Concepts LLC grew its stake 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 valued at $126,000 after buying an additional 1,526 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a report on Thursday, March 20th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Barclays lowered 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 note on Monday, January 27th. Finally, UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Stock Down 1.0 %

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

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting 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 during the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company posted $0.47 earnings per share. As a group, equities research analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

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

Insider Buying and Selling

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction dated 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 acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction dated 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 directly owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. The trade was 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 insiders.

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.