Colonial Trust Co SC Acquires 1,627 Shares of PG&E Co. (NYSE:PCG)

Colonial Trust Co SC raised its holdings in PG&E Co. (NYSE:PCG) by 563.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,916 shares of the utilities provider’s stock after purchasing an additional 1,627 shares during the quarter. Colonial Trust Co SC’s holdings in PG&E were worth $39,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. UMB Bank n.a. boosted its stake in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after buying an additional 1,506 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of PG&E by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 825 shares during the last quarter. First Horizon Advisors Inc. boosted its stake in shares of PG&E by 746.0% in the 4th 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 in the last quarter. Sierra Ocean LLC bought a new stake in shares of PG&E during the 4th quarter valued at approximately $111,000. Finally, Huntington National Bank increased its position in PG&E by 24.9% during the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock worth $122,000 after purchasing an additional 1,205 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling

In other news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction that occurred 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 transaction, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on PCG shares. Barclays cut their target price on shares of PG&E from $23.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. Morgan Stanley restated an “underweight” rating on shares of PG&E in a research report on Wednesday, April 23rd. Jefferies Financial Group increased their target price on PG&E from $20.00 to $22.00 and gave the company a “buy” rating in a research report on Wednesday, April 23rd. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Finally, Evercore ISI raised their price objective on shares of PG&E from $15.00 to $17.00 and gave the company an “in-line” rating in a report on Monday, April 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $21.13.

PG&E Stock Performance

Shares of PCG opened at $17.11 on Friday. The firm’s fifty day simple moving average is $16.88 and its two-hundred day simple moving average is $18.05. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $45.78 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG) last released 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 business had revenue of $5.98 billion for the quarter, compared to analyst estimates of $6.23 billion. During the same period in the prior year, the business earned $0.37 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. PG&E’s payout ratio is presently 9.17%.

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.