Catalyst Funds Management Pty Ltd Reduces Position in PG&E Co. (NYSE:PCG)

Catalyst Funds Management Pty Ltd decreased its holdings in shares of PG&E Co. (NYSE:PCG) by 10.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 123,800 shares of the utilities provider’s stock after selling 15,000 shares during the quarter. Catalyst Funds Management Pty Ltd’s holdings in PG&E were worth $2,498,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Assetmark Inc. grew its holdings in shares of PG&E by 35.9% in the third quarter. Assetmark Inc. now owns 86,663 shares of the utilities provider’s stock valued at $1,713,000 after purchasing an additional 22,893 shares during the period. Apollon Wealth Management LLC purchased a new stake in shares of PG&E in the third quarter valued at about $203,000. Victory Capital Management Inc. grew its holdings in shares of PG&E by 3.2% in the third quarter. Victory Capital Management Inc. now owns 803,682 shares of the utilities provider’s stock valued at $15,889,000 after purchasing an additional 24,973 shares during the period. Plato Investment Management Ltd grew its holdings in shares of PG&E by 502.6% in the third quarter. Plato Investment Management Ltd now owns 15,233 shares of the utilities provider’s stock valued at $301,000 after purchasing an additional 12,705 shares during the period. Finally, KBC Group NV grew its holdings in shares of PG&E by 199.2% in the third quarter. KBC Group NV now owns 432,563 shares of the utilities provider’s stock valued at $8,552,000 after purchasing an additional 287,975 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Up 2.5 %

Shares of PCG opened at $16.81 on Friday. The stock has a market capitalization of $44.89 billion, a PE ratio of 14.61, a P/E/G ratio of 1.09 and a beta of 1.04. 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 quick ratio of 1.00 and a current ratio of 1.05. The company’s 50-day simple moving average is $16.36 and its 200-day simple moving average is $18.87.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting the consensus estimate of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter last year, the company earned $0.47 earnings per share. Analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.60%. PG&E’s dividend payout ratio is currently 8.70%.

Insider Buying and Selling

In other PG&E news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the sale, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, 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, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares of the company’s stock, valued at $232,770.24. This represents a 75.39 % increase in their position. 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 firms have commented on PCG. Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. BMO Capital Markets upped their target price on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Morgan Stanley cut shares of PG&E from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $20.00 to $16.50 in a research report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Finally, Barclays decreased their target price on shares of 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 analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.23.

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.