100,000 Shares in PG&E Co. (NYSE:PCG) Purchased by Hartree Partners LP

Hartree Partners LP purchased a new stake in shares of PG&E Co. (NYSE:PCG) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 100,000 shares of the utilities provider’s stock, valued at approximately $2,018,000. PG&E accounts for 0.8% of Hartree Partners LP’s holdings, making the stock its 29th biggest position.

Other large investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in PG&E during the fourth quarter valued at about $591,625,000. Vanguard Group Inc. lifted its stake in shares of PG&E by 2.5% during the 4th 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 in the last quarter. State Street Corp grew its stake 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 buying an additional 5,191,463 shares in the last quarter. Brookfield Corp ON grew its stake in PG&E by 45.6% in the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock valued at $249,954,000 after buying an additional 3,958,495 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in PG&E by 244.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider’s stock valued at $95,066,000 after acquiring an additional 3,340,599 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 1.0 %

Shares of PG&E stock opened at $16.98 on Friday. 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 market cap of $45.35 billion, a PE ratio of 14.76, a PEG ratio of 1.09 and a beta of 1.04. The company has a 50 day simple moving average of $16.21 and a two-hundred day simple moving average of $18.68.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate 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 in the previous year, the firm posted $0.47 EPS. Analysts expect that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued 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 is Monday, March 31st. PG&E’s payout ratio is currently 8.70%.

Insider Activity

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction that occurred on Thursday, February 20th. The shares were bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction 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 disclosure for this sale can be found here. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on PCG shares. Barclays cut their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a research report on Wednesday, February 12th. BMO Capital Markets raised their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Finally, Morgan Stanley boosted their price objective on shares of PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research note on Thursday, March 20th. 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 company. Based on data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

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.