PG&E Co. (NYSE:PCG) Shares Sold by Titleist Asset Management LLC

Titleist Asset Management LLC lowered its holdings in shares of PG&E Co. (NYSE:PCG) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 44,061 shares of the utilities provider’s stock after selling 2,602 shares during the quarter. Titleist Asset Management LLC’s holdings in PG&E were worth $889,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Columbus Hill Capital Management L.P. raised its stake in shares of PG&E by 19.1% during the 4th quarter. Columbus Hill Capital Management L.P. now owns 1,749,449 shares of the utilities provider’s stock worth $35,304,000 after buying an additional 280,000 shares during the period. Russell Investments Group Ltd. lifted its holdings in PG&E by 7.9% during the fourth quarter. Russell Investments Group Ltd. now owns 2,629,672 shares of the utilities provider’s stock valued at $53,066,000 after purchasing an additional 193,516 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of PG&E by 93.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 1,191,123 shares of the utilities provider’s stock valued at $24,037,000 after purchasing an additional 575,365 shares during the period. Resona Asset Management Co. Ltd. purchased a new stake in shares of PG&E during the fourth quarter worth about $14,333,000. Finally, Prudential PLC raised its position in shares of PG&E by 581.7% during the 4th quarter. Prudential PLC now owns 207,154 shares of the utilities provider’s stock worth $4,180,000 after purchasing an additional 176,764 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Trading Down 4.6 %

Shares of PCG stock opened at $16.46 on Monday. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The firm has a market cap of $43.97 billion, a PE ratio of 14.31, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The company has a 50-day moving average of $16.25 and a two-hundred day moving average of $18.58. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

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

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.61%. The ex-dividend date is Monday, March 31st. PG&E’s payout ratio is presently 8.70%.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays decreased their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Morgan Stanley upped their price target on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. BMO Capital Markets upped their target price on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a report on Tuesday, February 18th. Finally, UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

PG&E Company 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.