PG&E Co. (NYSE:PCG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lessened its position in PG&E Co. (NYSE:PCG) by 46.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,090,948 shares of the utilities provider’s stock after selling 946,039 shares during the period. Allspring Global Investments Holdings LLC’s holdings in PG&E were worth $21,830,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of PCG. Versant Capital Management Inc increased its stake in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 626 shares during the period. UMB Bank n.a. grew its holdings in PG&E by 61.5% in the 4th 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 in the last quarter. Blue Trust Inc. increased its position in PG&E by 77.7% in the 3rd quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after acquiring an additional 1,834 shares during the period. Catalyst Capital Advisors LLC raised its stake in PG&E by 98.5% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 2,154 shares in the last quarter. Finally, Huntington National Bank boosted its position in PG&E by 32.9% during the 3rd quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after acquiring an additional 1,195 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PCG. Mizuho raised their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. UBS Group dropped their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $20.00 to $16.50 in a research note on Friday. 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, BMO Capital Markets assumed coverage on PG&E in a research report on Monday, January 13th. They issued an “outperform” rating and a $21.00 target price for the company. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $22.05.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

PG&E Stock Down 3.5 %

Shares of PG&E stock opened at $15.30 on Friday. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The firm has a market capitalization of $40.00 billion, a PE ratio of 11.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The stock’s fifty day moving average is $17.93 and its 200-day moving average is $19.20.

PG&E (NYSE:PCG) last posted 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. The company had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. During the same period in the prior year, the firm earned $0.47 earnings per share. Equities analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

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.