PG&E Co. (NYSE:PCG) Shares Bought by Levin Capital Strategies L.P.

Levin Capital Strategies L.P. grew its stake in PG&E Co. (NYSE:PCG) by 1.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,461,267 shares of the utilities provider’s stock after purchasing an additional 20,638 shares during the quarter. PG&E makes up 2.8% of Levin Capital Strategies L.P.’s holdings, making the stock its 11th biggest position. Levin Capital Strategies L.P. owned about 0.06% of PG&E worth $26,347,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PCG. Planned Solutions Inc. purchased a new position in shares of PG&E in the fourth quarter worth about $37,000. CVA Family Office LLC purchased a new position in shares of PG&E in the fourth quarter worth about $43,000. Millburn Ridgefield Corp purchased a new position in shares of PG&E in the third quarter worth about $44,000. Catalyst Capital Advisors LLC purchased a new position in shares of PG&E in the third quarter worth about $44,000. Finally, Headlands Technologies LLC purchased a new position in shares of PG&E in the third quarter worth about $47,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on PCG shares. The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. JPMorgan Chase & Co. lifted their price objective on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Finally, Barclays boosted their price target on shares of PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $19.11.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.15% of the company’s stock.

PG&E Stock Performance

PG&E stock traded up $0.22 during mid-day trading on Thursday, reaching $17.63. The company’s stock had a trading volume of 5,905,460 shares, compared to its average volume of 15,369,398. The firm has a market cap of $37.68 billion, a price-to-earnings ratio of 15.54 and a beta of 1.26. The business has a 50 day moving average price of $16.62 and a 200-day moving average price of $16.92. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period last year, the business posted $0.29 earnings per share. Sell-side analysts predict that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio is currently 3.57%.

PG&E Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.