Ieq Capital LLC Acquires 106,545 Shares of PG&E Co. (NYSE:PCG)

Ieq Capital LLC increased its stake in PG&E Co. (NYSE:PCG) by 307.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 141,234 shares of the utilities provider’s stock after purchasing an additional 106,545 shares during the quarter. Ieq Capital LLC’s holdings in PG&E were worth $2,850,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Versant Capital Management Inc increased its position in PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares in the last quarter. Commerce Bank increased its holdings in PG&E by 1.5% in the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 712 shares in the last quarter. Baker Tilly Wealth Management LLC raised its stake in PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 715 shares during the period. Continuum Advisory LLC lifted its holdings in PG&E by 11.4% during the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after purchasing an additional 769 shares in the last quarter. Finally, iA Global Asset Management Inc. lifted its holdings in PG&E by 2.6% during the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock valued at $624,000 after purchasing an additional 812 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of the stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction 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 filing with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the stock in a transaction that occurred on Thursday, February 20th. The stock was bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company’s stock, 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 currently owned by company insiders.

PG&E Stock Performance

NYSE:PCG opened at $15.94 on Friday. The company has a market cap of $42.57 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.09 and a beta of 0.99. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The stock’s 50 day simple moving average is $17.50 and its two-hundred day simple moving average is $19.11. 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 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 net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. As a group, equities analysts anticipate that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.63%. PG&E’s payout ratio is 8.70%.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. UBS Group reduced their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Mizuho increased their price target on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. Morgan Stanley cut PG&E from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, BMO Capital Markets lifted their target price on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.