Oak Thistle LLC Trims Stock Position in PG&E Co. (NYSE:PCG)

Oak Thistle LLC decreased its holdings in PG&E Co. (NYSE:PCG) by 74.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,871 shares of the utilities provider’s stock after selling 73,589 shares during the quarter. Oak Thistle LLC’s holdings in PG&E were worth $417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Chico Wealth RIA grew its holdings in PG&E by 20.3% in the first quarter. Chico Wealth RIA now owns 30,969 shares of the utilities provider’s stock valued at $519,000 after purchasing an additional 5,224 shares during the period. Wealth Enhancement Advisory Services LLC grew its stake in shares of PG&E by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,506 shares of the utilities provider’s stock valued at $578,000 after buying an additional 1,507 shares during the period. Brookstone Capital Management acquired a new stake in shares of PG&E during the 1st quarter worth $256,000. Wallace Advisory Group LLC raised its position in shares of PG&E by 4.1% in the 1st quarter. Wallace Advisory Group LLC now owns 34,891 shares of the utilities provider’s stock worth $629,000 after buying an additional 1,379 shares during the period. Finally, Miller Howard Investments Inc. NY acquired a new position in PG&E in the first quarter valued at $657,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on PCG. Barclays dropped their price target on PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Citigroup raised their price target on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Morgan Stanley dropped their price objective on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $19.00 to $22.00 in a report on Monday, June 10th. Finally, Mizuho increased their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $20.11.

PG&E Stock Performance

Shares of PG&E stock opened at $17.17 on Tuesday. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. The firm has a market cap of $49.44 billion, a PE ratio of 15.33 and a beta of 1.08. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $18.95. The firm’s 50-day simple moving average is $17.93 and its 200-day simple moving average is $17.24.

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

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given 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 is Friday, June 28th. PG&E’s dividend payout ratio is presently 3.57%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. 0.15% of the stock is owned by company insiders.

About PG&E

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.