Reaves W H & Co. Inc. Lowers Holdings in PG&E Co. (NYSE:PCG)

Reaves W H & Co. Inc. decreased its stake in shares of PG&E Co. (NYSE:PCG) by 25.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,534,036 shares of the utilities provider’s stock after selling 1,181,897 shares during the quarter. PG&E comprises about 1.9% of Reaves W H & Co. Inc.’s investment portfolio, making the stock its 24th biggest holding. Reaves W H & Co. Inc. owned about 0.14% of PG&E worth $71,317,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PCG. Versant Capital Management Inc raised 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 worth $31,000 after purchasing an additional 626 shares during the last quarter. UMB Bank n.a. raised 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. Catalyst Capital Advisors LLC raised its stake in shares of PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 2,154 shares during the last quarter. Huntington National Bank raised its stake in shares of PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock worth $96,000 after purchasing an additional 1,195 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its stake in shares of PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 4,819 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent analyst reports. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Mizuho boosted their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. UBS Group reduced their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. Finally, Barclays reduced their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research report on Monday, January 27th. One equities 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 company’s stock. Based on data from MarketBeat, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

PG&E Stock Performance

NYSE:PCG opened at $16.42 on Tuesday. The stock has a 50-day simple moving average of $17.07 and a two-hundred day simple moving average of $19.03. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The firm has a market capitalization of $43.86 billion, a PE ratio of 14.28, a P/E/G ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the company posted $0.47 earnings per share. Analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business 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 dividend of $0.025 per share. This represents a $0.10 annualized dividend and a yield of 0.61%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is presently 8.70%.

Insider Buying and Selling at PG&E

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

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.