Vima LLC Buys Shares of 2,293 PG&E Co. (NYSE:PCG)

Vima LLC bought a new stake in shares of PG&E Co. (NYSE:PCG) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,293 shares of the utilities provider’s stock, valued at approximately $41,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Planned Solutions Inc. purchased a new position in shares of PG&E during the fourth quarter worth about $37,000. CVA Family Office LLC purchased a new position in shares of PG&E during the fourth quarter worth about $43,000. Pacific Capital Wealth Advisors Inc. purchased a new position in shares of PG&E during the fourth quarter worth about $47,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of PG&E during the fourth quarter worth about $54,000. Finally, Tidemark LLC purchased a new position in shares of PG&E during the fourth quarter worth about $54,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 0.7 %

NYSE:PCG traded down $0.12 during trading hours on Friday, reaching $18.25. 7,704,734 shares of the company traded hands, compared to its average volume of 11,746,688. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $18.95. The stock has a market capitalization of $52.55 billion, a P/E ratio of 16.29 and a beta of 1.19. The business’s 50-day moving average price is $17.70 and its two-hundred day moving average price is $17.23. 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 released its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. The firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company’s quarterly revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.29 earnings per share. Analysts predict that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio is 3.57%.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $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 owned by corporate insiders.

Analyst Ratings Changes

Several analysts have issued reports on PCG shares. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. Morgan Stanley upped their target price on PG&E from $16.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 28th. Barclays upped their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 5th. The Goldman Sachs Group initiated coverage on PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective for the company. Finally, Mizuho boosted their price objective on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $20.33.

About PG&E

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.