Stonegate Investment Group LLC Has $292,000 Stake in PG&E Co. (NYSE:PCG)

Stonegate Investment Group LLC increased its position in shares of PG&E Co. (NYSE:PCG) by 9.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 14,450 shares of the utilities provider’s stock after purchasing an additional 1,189 shares during the quarter. Stonegate Investment Group LLC’s holdings in PG&E were worth $292,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PCG. FMR LLC lifted its holdings in shares of PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares in the last quarter. State Street Corp increased its position in 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 acquiring an additional 5,191,463 shares during the period. Brookfield Corp ON raised 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 worth $249,954,000 after purchasing an additional 3,958,495 shares in the last quarter. Clearbridge Investments LLC bought a new stake in PG&E in the 2nd quarter valued at about $56,679,000. Finally, Massachusetts Financial Services Co. MA boosted its holdings in PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after purchasing an additional 2,936,763 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction 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 approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company’s stock.

PG&E Trading Down 2.1 %

Shares of PG&E stock opened at $15.95 on Wednesday. The firm’s 50 day moving average is $19.35 and its 200 day moving average is $19.43. The firm has a market capitalization of $41.70 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.15 and a beta of 0.98. PG&E Co. has a 1 year low of $15.78 and a 1 year high of $21.72. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

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

PG&E Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st were given a dividend of $0.025 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 annualized dividend and a yield of 0.63%. PG&E’s dividend payout ratio (DPR) is currently 7.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PCG. Jefferies Financial Group assumed coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target for the company. Mizuho lifted their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. BMO Capital Markets started coverage on PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 target price on the stock. Barclays dropped their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a research note on Monday. Finally, UBS Group reduced their price objective on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Two analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.55.

PG&E 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.