Peapack Gladstone Financial Corp Has $1.69 Million Holdings in PG&E Co. (NYSE:PCG)

Peapack Gladstone Financial Corp trimmed its position in shares of PG&E Co. (NYSE:PCG) by 6.3% in the 4th quarter, Holdings Channel reports. The institutional investor owned 83,490 shares of the utilities provider’s stock after selling 5,631 shares during the period. Peapack Gladstone Financial Corp’s holdings in PG&E were worth $1,685,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. 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. UMB Bank n.a. boosted its holdings in PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock worth $80,000 after purchasing an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider’s stock worth $110,000 after purchasing an additional 4,819 shares in the last quarter. Sierra Ocean LLC acquired a new position in PG&E during the fourth quarter worth $111,000. Finally, Huntington National Bank raised its holdings in PG&E by 24.9% during the fourth quarter. Huntington National Bank now owns 6,036 shares of the utilities provider’s stock valued at $122,000 after buying an additional 1,205 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling at PG&E

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the transaction, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. The trade was a 15.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

Wall Street Analyst Weigh In

PCG has been the topic of a number of analyst reports. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets raised their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. Finally, Morgan Stanley boosted their target price on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research report on Thursday, March 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.05.

PG&E Stock Performance

PCG opened at $15.89 on Wednesday. The stock’s 50 day simple moving average is $16.25 and its 200-day simple moving average is $18.51. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The stock has a market cap of $42.43 billion, a PE ratio of 13.81, a P/E/G ratio of 1.09 and a beta of 0.70. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. The company had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same period last year, the firm earned $0.47 EPS. Sell-side analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.63%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

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.