PG&E Co. (NYSE:PCG) Stock Holdings Decreased by Wallace Advisory Group LLC

Wallace Advisory Group LLC reduced its stake in shares of PG&E Co. (NYSE:PCG) by 17.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 27,350 shares of the utilities provider’s stock after selling 5,733 shares during the quarter. Wallace Advisory Group LLC’s holdings in PG&E were worth $541,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Versant Capital Management Inc lifted its stake in PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 626 shares during the last quarter. Plato Investment Management Ltd bought a new position in PG&E during the second quarter worth $44,000. Blue Trust Inc. increased its position in PG&E by 77.7% during the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock worth $83,000 after acquiring an additional 1,834 shares during the period. William B. Walkup & Associates Inc. bought a new position in PG&E during the second quarter worth $74,000. Finally, Catalyst Capital Advisors LLC increased its holdings in PG&E by 98.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after buying an additional 2,154 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Down 5.6 %

Shares of NYSE:PCG opened at $16.20 on Tuesday. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The company’s fifty day moving average is $20.28 and its 200-day moving average is $19.49. The company has a market capitalization of $42.37 billion, a PE ratio of 12.66, a P/E/G ratio of 1.51 and a beta of 0.98.

PG&E (NYSE:PCG) last issued its quarterly earnings results 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 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 firm’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. Equities research analysts predict that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.025 per share. This is an increase from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date is Tuesday, December 31st. This represents a $0.10 annualized dividend and a yield of 0.62%. PG&E’s dividend payout ratio is 7.81%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were 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 in the company, valued at approximately $30,168,186.52. This represents a 3.67 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

PCG has been the topic of several analyst reports. BMO Capital Markets initiated coverage on shares of PG&E in a report on Monday. They issued an “outperform” rating and a $21.00 price target on the stock. Jefferies Financial Group initiated coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. Barclays lowered their price target on shares of PG&E from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Tuesday, December 17th. Mizuho boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Finally, Morgan Stanley boosted their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average target price of $22.64.

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.