Level Four Advisory Services LLC Grows Stake in PG&E Co. (NYSE:PCG)

Level Four Advisory Services LLC increased its holdings in PG&E Co. (NYSE:PCG) by 7.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,066 shares of the utilities provider’s stock after purchasing an additional 772 shares during the period. Level Four Advisory Services LLC’s holdings in PG&E were worth $223,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of PG&E by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock worth $5,132,964,000 after buying an additional 6,151,233 shares in the last quarter. State Street Corp boosted its stake in 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 last quarter. Geode Capital Management LLC grew its holdings in PG&E by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after buying an additional 536,914 shares in the last quarter. Wellington Management Group LLP increased its stake in PG&E by 6.4% in the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after acquiring an additional 1,822,835 shares during the last quarter. Finally, Norges Bank bought a new stake in PG&E in the 4th quarter worth approximately $591,625,000. 78.56% of the stock is currently owned by institutional investors.

PG&E Trading Up 0.4 %

Shares of NYSE:PCG opened at $17.26 on Wednesday. The company has a market capitalization of $46.09 billion, a PE ratio of 15.00, a P/E/G ratio of 1.09 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The business’s fifty day simple moving average is $16.21 and its 200-day simple moving average is $18.64. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion for the quarter, compared to the consensus estimate 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 in the prior year, the firm posted $0.47 earnings per share. As a group, equities research analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders 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 yield of 0.58%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is presently 8.70%.

Insider Buying and Selling at PG&E

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

Wall Street Analysts Forecast Growth

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

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.