Reaves W H & Co. Inc. Sells 1,181,897 Shares of PG&E Co. (NYSE:PCG)

Reaves W H & Co. Inc. decreased its holdings in PG&E Co. (NYSE:PCG) by 25.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 3,534,036 shares of the utilities provider’s stock after selling 1,181,897 shares during the quarter. PG&E comprises 1.9% of Reaves W H & Co. Inc.’s portfolio, making the stock its 24th biggest holding. Reaves W H & Co. Inc.’s holdings in PG&E were worth $71,317,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. FMR LLC boosted its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares during the period. State Street Corp lifted its position in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after buying an additional 5,191,463 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PG&E by 2.9% in 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. Geode Capital Management LLC lifted its position in shares of PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after buying an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in shares of PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after buying an additional 1,822,835 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.5 %

Shares of PCG stock opened at $16.42 on Tuesday. 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 $17.07 and its two-hundred day simple moving average is $19.03. The company has a market cap of $43.86 billion, a PE ratio of 14.28, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.61%. PG&E’s payout ratio is 8.70%.

Insider Transactions at PG&E

In other PG&E news, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The shares were purchased at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, 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 acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on PCG shares. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price 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 decreased their target price for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. 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. Finally, Barclays decreased their target price on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and an average target price of $22.23.

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.