Atria Wealth Solutions Inc. Makes New $466,000 Investment in PG&E Co. (NYSE:PCG)

Atria Wealth Solutions Inc. acquired a new stake in PG&E Co. (NYSE:PCG) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund acquired 23,087 shares of the utilities provider’s stock, valued at approximately $466,000.

Other institutional investors also recently modified their holdings of the company. Czech National Bank raised its position in shares of PG&E by 8.9% during the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider’s stock worth $9,566,000 after purchasing an additional 38,590 shares during the period. New York State Teachers Retirement System raised its holdings in PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider’s stock worth $39,837,000 after buying an additional 148,860 shares during the last quarter. State Street Corp lifted its stake 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 valued at $2,155,093,000 after buying an additional 5,191,463 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of PG&E by 259.6% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 61,850 shares of the utilities provider’s stock valued at $1,223,000 after buying an additional 44,650 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC acquired a new position in shares of PG&E during the fourth quarter valued at about $514,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on PCG shares. Morgan Stanley cut shares of PG&E from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $20.00 to $16.50 in a research report on Friday, February 14th. UBS Group dropped their target price on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. BMO Capital Markets upped their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Mizuho lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the company’s stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Buying and Selling

In related news, Director Arno Lockheart Harris purchased 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total value of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares in the company, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by insiders.

PG&E Trading Down 0.6 %

NYSE:PCG opened at $15.95 on Friday. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. 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 firm’s 50 day moving average is $17.29 and its 200 day moving average is $19.07. The stock has a market capitalization of $42.59 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion for the quarter, compared to analysts’ expectations of $7.29 billion. During the same quarter in the prior year, the firm earned $0.47 EPS. Sell-side analysts expect that PG&E Co. will post 1.49 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.63%. PG&E’s payout ratio is 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.