PG&E Co. (NYSE:PCG) Shares Sold by Wallace Advisory Group LLC

Wallace Advisory Group LLC trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 17.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,350 shares of the utilities provider’s stock after selling 5,733 shares during the period. Wallace Advisory Group LLC’s holdings in PG&E were worth $541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. State Street Corp raised its holdings in shares of PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of PG&E by 259.6% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock worth $1,223,000 after acquiring an additional 44,650 shares during the period. Scientech Research LLC acquired a new stake in shares of PG&E in the 2nd quarter worth about $1,122,000. Creative Planning increased its holdings in shares of PG&E by 39.6% in the 2nd quarter. Creative Planning now owns 111,358 shares of the utilities provider’s stock worth $1,944,000 after acquiring an additional 31,573 shares during the period. Finally, Czech National Bank increased its holdings in shares of PG&E by 6.9% in the 3rd quarter. Czech National Bank now owns 435,423 shares of the utilities provider’s stock worth $8,608,000 after acquiring an additional 28,192 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PCG shares. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group started coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. BMO Capital Markets started coverage on shares of PG&E in a report on Monday. They issued an “outperform” rating and a $21.00 price objective on the stock. UBS Group decreased their target price on shares of PG&E from $26.00 to $24.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Finally, Barclays decreased their target price on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating for the company in a research report on Tuesday, December 17th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.64.

PG&E Stock Performance

Shares of PCG opened at $16.20 on Tuesday. The firm’s 50 day moving average is $20.28 and its 200-day moving average is $19.49. The stock has a market capitalization of $42.37 billion, a P/E ratio of 12.66, a P/E/G ratio of 1.51 and a beta of 0.98. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS. Equities research analysts anticipate that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Tuesday, December 31st will be paid a $0.025 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.62%. This is a boost from PG&E’s previous quarterly dividend of $0.01. PG&E’s payout ratio is currently 7.81%.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the transaction, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.