Millburn Ridgefield Corp Has $37,000 Holdings in PG&E Co. (NYSE:PCG)

Millburn Ridgefield Corp lessened its position in PG&E Co. (NYSE:PCG) by 23.9% during the 4th quarter, HoldingsChannel.com reports. The fund owned 2,072 shares of the utilities provider’s stock after selling 650 shares during the period. Millburn Ridgefield Corp’s holdings in PG&E were worth $37,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Planned Solutions Inc. bought a new stake in shares of PG&E in the fourth quarter valued at approximately $37,000. CVA Family Office LLC bought a new stake in PG&E in the 4th quarter valued at $43,000. Catalyst Capital Advisors LLC acquired a new stake in PG&E in the 3rd quarter worth $44,000. Headlands Technologies LLC bought a new position in shares of PG&E during the 3rd quarter worth about $47,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of PG&E during the fourth quarter valued at about $54,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PCG shares. Barclays lifted their target price on PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lifted their price objective on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. The Goldman Sachs Group assumed coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Finally, StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $19.11.

PG&E Price Performance

PCG stock traded up $0.04 during trading on Friday, hitting $17.57. The company had a trading volume of 12,813,177 shares, compared to its average volume of 11,748,601. The company has a fifty day moving average price of $16.65 and a two-hundred day moving average price of $16.94. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The company has a market cap of $37.55 billion, a P/E ratio of 15.69 and a beta of 1.26. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.29 EPS. Equities research analysts expect that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. The ex-dividend date was Wednesday, March 27th. PG&E’s payout ratio is 3.57%.

Insider Activity

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by corporate insiders.

PG&E Company 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.