Transcend Capital Advisors LLC Buys 1,729 Shares of PG&E Co. (NYSE:PCG)

Transcend Capital Advisors LLC raised its stake in shares of PG&E Co. (NYSE:PCG) by 8.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 22,940 shares of the utilities provider’s stock after purchasing an additional 1,729 shares during the period. Transcend Capital Advisors LLC’s holdings in PG&E were worth $463,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Versant Capital Management Inc lifted its position in shares of 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 in the last quarter. UMB Bank n.a. lifted its position in shares of PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider’s stock valued at $80,000 after acquiring an additional 1,506 shares in the last quarter. Blue Trust Inc. lifted its position in shares of PG&E by 77.7% in the third quarter. Blue Trust Inc. now owns 4,195 shares of the utilities provider’s stock valued at $83,000 after acquiring an additional 1,834 shares in the last quarter. Catalyst Capital Advisors LLC lifted its position in shares of PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 2,154 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of PG&E by 32.9% in the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after acquiring an additional 1,195 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PCG. Mizuho boosted their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $20.00 to $16.50 in a research report on Friday, February 14th. BMO Capital Markets boosted their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 18th. Finally, UBS Group decreased their target price on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Insider Buying and Selling at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, the director now owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value 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 disclosure for this sale can be found here. Company insiders own 0.15% of the company’s stock.

PG&E Trading Up 1.6 %

Shares of PCG stock opened at $15.94 on Friday. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The stock’s 50 day simple moving average is $17.50 and its two-hundred day simple moving average is $19.11. The company has a market cap of $42.57 billion, a PE ratio of 13.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the business posted $0.47 earnings per share. Research analysts predict that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

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

About PG&E

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.