PG&E Co. (NYSE:PCG) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC raised its stake in shares of PG&E Co. (NYSE:PCG) by 16.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,332 shares of the utilities provider’s stock after purchasing an additional 5,703 shares during the period. Sequoia Financial Advisors LLC’s holdings in PG&E were worth $814,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCG. FMR LLC increased its position in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares in the last quarter. State Street Corp raised its stake in shares of 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 period. Massachusetts Financial Services Co. MA raised its stake in shares of PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after acquiring an additional 2,936,763 shares during the period. Geode Capital Management LLC raised its stake in shares of PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after acquiring an additional 536,914 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of PG&E by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after acquiring an additional 1,822,835 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insiders Place Their Bets

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction 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 $3,006,104.95. This trade represents 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 company insiders.

PG&E Price Performance

Shares of PCG stock opened at $16.81 on Monday. The firm has a market cap of $44.89 billion, a P/E ratio of 14.61, 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. The firm has a fifty day moving average of $16.36 and a two-hundred day moving average of $18.87.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate 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 10.27% and a return on equity of 10.94%. During the same period last year, the business earned $0.47 EPS. As a group, research analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.60%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $20.00 to $16.50 in a research note on Friday, February 14th. BMO Capital Markets raised 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. UBS Group cut their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Barclays cut their target price 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, JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

About PG&E

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.