Atlas Capital Advisors Inc. Trims Stake in PG&E Co. (NYSE:PCG)

Atlas Capital Advisors Inc. cut its position in shares of PG&E Co. (NYSE:PCG) by 39.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 15,058 shares of the utilities provider’s stock after selling 9,664 shares during the period. Atlas Capital Advisors Inc.’s holdings in PG&E were worth $304,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of PG&E by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after buying an additional 6,151,233 shares during the last quarter. State Street Corp grew its position in 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 acquiring an additional 5,191,463 shares during the last quarter. Geode Capital Management LLC increased its stake in PG&E by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock worth $1,046,462,000 after purchasing an additional 2,151,494 shares during the period. Wellington Management Group LLP lifted its position in shares of PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after purchasing an additional 1,822,835 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of PG&E during the fourth quarter worth $591,625,000. 78.56% of the stock is currently owned by institutional investors.

Insider Transactions at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, 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 ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction on Tuesday, March 4th. The stock was 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. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

PG&E Trading Down 4.6 %

NYSE PCG opened at $16.46 on Friday. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a 50 day moving average price of $16.25 and a 200 day moving average price of $18.59. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The firm has a market cap of $43.97 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.09 and a beta of 1.04.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter in the prior year, the business posted $0.47 EPS. As a group, sell-side analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. BMO Capital Markets raised their target price on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Barclays reduced their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Finally, Morgan Stanley upped their target price on PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.