Polymer Capital Management US LLC Takes Position in PG&E Co. (NYSE:PCG)

Polymer Capital Management US LLC purchased a new position in shares of PG&E Co. (NYSE:PCG) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 247,995 shares of the utilities provider’s stock, valued at approximately $5,005,000. PG&E comprises 1.4% of Polymer Capital Management US LLC’s investment portfolio, making the stock its 15th largest holding.

Several other institutional investors and hedge funds also recently made changes to their positions in PCG. Versant Capital Management Inc grew its holdings in 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 during the last quarter. UMB Bank n.a. grew its stake 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 worth $80,000 after purchasing an additional 1,506 shares during the last quarter. First Horizon Advisors Inc. increased its holdings in PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock valued at $110,000 after purchasing an additional 4,819 shares during the period. Sierra Ocean LLC bought a new position in PG&E during the 4th quarter worth $111,000. Finally, Huntington National Bank lifted its holdings in PG&E by 24.9% during the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock worth $122,000 after buying an additional 1,205 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PCG. JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Barclays decreased their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. UBS Group downgraded shares of PG&E from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $19.00 in a research report on Wednesday, March 19th. Guggenheim cut shares of PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. Finally, 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 report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus price target of $22.05.

PG&E Price Performance

PCG stock opened at $16.46 on Monday. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The stock has a market capitalization of $43.97 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The company’s 50-day moving average is $16.25 and its 200-day moving average is $18.58. 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 announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS 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 firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the firm posted $0.47 earnings per share. Equities research analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred 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 sale, the executive vice president now directly owns 183,635 shares of the company’s stock, valued at $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through 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 shares were bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.15% of the company’s stock.

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.