McElhenny Sheffield Capital Management LLC Acquires Shares of 25,456 PG&E Co. (NYSE:PCG)

McElhenny Sheffield Capital Management LLC acquired a new stake in shares of PG&E Co. (NYSE:PCG) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 25,456 shares of the utilities provider’s stock, valued at approximately $514,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PCG. FMR LLC boosted its stake in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. King Street Capital Management L.P. bought a new position in shares of PG&E in the second quarter valued at approximately $1,964,250,000. State Street Corp boosted its position 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 valued at $2,155,093,000 after buying an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after buying an additional 536,914 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Stock Up 0.4 %

Shares of NYSE PCG opened at $17.02 on Friday. The business’s fifty day moving average price is $19.99 and its 200-day moving average price is $19.47. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The stock has a market capitalization of $44.51 billion, a PE ratio of 13.30, a P/E/G ratio of 1.20 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 (NYSE:PCG) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 earnings per share. On average, equities research analysts anticipate that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.025 per share. This is a boost from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date was Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. PG&E’s payout ratio is presently 7.81%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on PCG shares. UBS Group cut their price objective on shares of PG&E from $26.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group assumed coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target on the stock. BMO Capital Markets initiated coverage on shares of PG&E in a research note on Monday, January 13th. They issued an “outperform” rating and a $21.00 price objective for the company. Barclays cut their target price on PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Tuesday, December 17th. Finally, Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.64.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.