PG&E Co. (NYSE:PCG) Shares Sold by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC reduced its holdings in PG&E Co. (NYSE:PCG) by 67.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,300 shares of the utilities provider’s stock after selling 150,027 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in PG&E were worth $1,439,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCG. Versant Capital Management Inc grew its position in 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 buying an additional 626 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of 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 acquiring an additional 1,506 shares during the last quarter. Optiver Holding B.V. raised its position in shares of PG&E by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 825 shares during the period. First Horizon Advisors Inc. lifted its holdings in shares of PG&E by 746.0% during 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 last quarter. Finally, Sierra Ocean LLC acquired a new position in shares of PG&E in the 4th quarter valued at $111,000. 78.56% of the stock is currently owned by institutional investors.

PG&E Trading Up 0.9 %

Shares of PCG stock opened at $17.07 on Wednesday. The business’s 50 day moving average is $16.83 and its two-hundred day moving average is $18.10. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a market cap of $45.66 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter last year, the business earned $0.37 EPS. The business’s revenue was up 2.1% compared to the same quarter last year. Equities analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a dividend of $0.025 per share. The ex-dividend date was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E’s dividend payout ratio (DPR) is presently 9.17%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Barclays cut their price objective on PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, April 9th. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 target price on shares of PG&E in a research report on Friday, April 25th. Jefferies Financial Group boosted their price target on shares of PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, April 23rd. Morgan Stanley reiterated an “underweight” rating on shares of PG&E in a report on Wednesday, April 23rd. Finally, Evercore ISI boosted their target price on PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a research note on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and an average price target of $21.13.

Insider Transactions at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction dated Thursday, February 20th. The shares were bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This trade represents a 75.39 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the sale, the executive vice president now owns 151,116 shares of the company’s stock, valued at approximately $2,614,306.80. The trade was a 17.71 % decrease in their position. The disclosure for this sale can be found here. 0.14% 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.