PG&E Co. (NYSE:PCG) Shares Purchased by Lido Advisors LLC

Lido Advisors LLC boosted its stake in shares of PG&E Co. (NYSE:PCG) by 14.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,051 shares of the utilities provider’s stock after acquiring an additional 4,752 shares during the quarter. Lido Advisors LLC’s holdings in PG&E were worth $749,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its position in PG&E by 2.5% in the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider’s stock valued at $5,132,964,000 after buying an additional 6,151,233 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PG&E by 4.3% in the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider’s stock worth $1,046,462,000 after acquiring an additional 2,151,494 shares during the period. Capital Research Global Investors boosted its holdings in shares of PG&E by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock valued at $944,540,000 after acquiring an additional 19,317,171 shares in the last quarter. Norges Bank acquired a new position in shares of PG&E during the fourth quarter worth about $591,625,000. Finally, Northern Trust Corp raised its holdings in PG&E by 6.8% during the fourth quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider’s stock worth $385,962,000 after purchasing an additional 1,214,394 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PCG. Evercore ISI boosted their target price on PG&E from $15.00 to $17.00 and gave the stock an “in-line” rating in a research report on Monday, April 28th. Morgan Stanley reaffirmed an “underweight” rating on shares of PG&E in a report on Wednesday, April 23rd. Wells Fargo & Company reiterated an “overweight” rating and issued a $24.00 price objective on shares of PG&E in a research report on Friday, April 25th. Jefferies Financial Group boosted their target price on shares of PG&E from $20.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, April 23rd. Finally, Guggenheim increased their price target on shares of PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $21.13.

Insider Buying and Selling at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of the firm’s stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares in the company, valued at approximately $2,614,306.80. This trade represents a 17.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed 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 bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the acquisition, 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 disclosure for this purchase can be found here. 0.14% of the stock is currently owned by corporate insiders.

PG&E Stock Up 1.6 %

Shares of PCG opened at $16.93 on Friday. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company’s fifty day moving average is $16.79 and its two-hundred day moving average is $18.15. The firm has a market cap of $45.30 billion, a PE ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to analysts’ expectations of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. PG&E’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the firm posted $0.37 EPS. Analysts forecast that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.59%. PG&E’s payout ratio is 9.17%.

PG&E 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.