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

Ieq Capital LLC increased its holdings in shares of PG&E Co. (NYSE:PCG) by 307.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 141,234 shares of the utilities provider’s stock after buying 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.

A number of other large investors also recently bought and sold shares of the business. FMR LLC increased its stake in PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the period. State Street Corp grew its holdings in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares during the period. Geode Capital Management LLC increased its stake in PG&E by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after buying an additional 536,914 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in PG&E by 6.4% during the 3rd quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after buying an additional 1,822,835 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on PCG shares. Barclays dropped 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 dropped their price objective on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, January 30th. Mizuho lifted their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Morgan Stanley downgraded PG&E from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, BMO Capital Markets raised their price target 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 equities research 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 data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.23.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s 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 transaction, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, with a total value of $100,051.74. Following the completion of the purchase, 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 position. The disclosure for this purchase can be found here. Insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of PCG stock opened at $15.94 on Friday. The company has a market cap of $42.57 billion, a P/E ratio of 13.86, a PEG ratio of 1.09 and a beta of 0.99. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The stock’s 50-day moving average is $17.50 and its 200 day moving average is $19.11. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings data 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 firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same quarter in the previous year, the firm earned $0.47 EPS. Research analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Announces Dividend

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

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.