Moss Adams Wealth Advisors LLC Takes $207,000 Position in PG&E Co. (NYSE:PCG)

Moss Adams Wealth Advisors LLC acquired a new position in PG&E Co. (NYSE:PCG) in the fourth quarter, Holdings Channel reports. The fund acquired 10,274 shares of the utilities provider’s stock, valued at approximately $207,000.

A number of other hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc increased its holdings in shares of PG&E by 68.3% in the 4th 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 period. William B. Walkup & Associates Inc. bought a new stake in PG&E during the second quarter valued at about $74,000. Blue Trust Inc. grew its stake in 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 purchasing an additional 1,834 shares during the last quarter. Catalyst Capital Advisors LLC raised its holdings in PG&E by 98.5% in the third quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after purchasing an additional 2,154 shares in the last quarter. Finally, Huntington National Bank lifted its position in shares of PG&E by 32.9% during the third quarter. Huntington National Bank now owns 4,831 shares of the utilities provider’s stock valued at $96,000 after buying an additional 1,195 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Up 0.4 %

Shares of NYSE:PCG opened at $17.02 on Monday. The business has a 50-day moving average price of $19.99 and a 200-day moving average price of $19.48. The stock has a market cap of $44.51 billion, a price-to-earnings ratio of 13.30, a PEG ratio of 1.20 and a beta of 0.98. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.24 EPS. Equities analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st were issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.59%. This is a positive change from PG&E’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend was Tuesday, December 31st. PG&E’s dividend payout ratio is presently 7.81%.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Morgan Stanley lifted their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Barclays cut 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. Jefferies Financial Group initiated coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. BMO Capital Markets started coverage on PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 target price on the stock. Finally, Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.64.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now 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 link. 0.15% of the stock is owned by insiders.

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.