Insider Buying: PG&E Co. (NYSE:PCG) Director Purchases 6,389 Shares of Stock

PG&E Co. (NYSE:PCG) Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction on Thursday, February 20th. The shares were bought at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

PG&E Stock Up 1.6 %

NYSE:PCG opened at $15.94 on Monday. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 13.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The stock has a fifty day simple moving average of $17.50 and a 200-day simple moving average of $19.12. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last released its 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 business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same period last year, the company earned $0.47 earnings per share. Analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

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

Analyst Ratings Changes

A number of equities research analysts have issued reports on PCG shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $20.00 to $16.50 in a report on Friday, February 14th. Barclays cut their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. UBS Group cut their target price on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. Finally, Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday, February 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.23.

Institutional Trading of PG&E

Several institutional investors and hedge funds have recently made changes to their positions in PCG. Czech National Bank increased its stake in shares of PG&E by 8.9% during the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock valued at $9,566,000 after buying an additional 38,590 shares during the period. New York State Teachers Retirement System increased its stake in shares of PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock valued at $39,837,000 after buying an additional 148,860 shares during the period. State Street Corp increased its stake in shares of PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after buying an additional 5,191,463 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of PG&E by 259.6% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 44,650 shares during the period. Finally, McElhenny Sheffield Capital Management LLC purchased a new position in shares of PG&E during the fourth quarter valued at $514,000. 78.56% of the stock is currently owned by institutional investors.

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.