Metis Global Partners LLC Has $1.22 Million Position in PG&E Co. (NYSE:PCG)

Metis Global Partners LLC trimmed its position in PG&E Co. (NYSE:PCG) by 38.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 67,789 shares of the utilities provider’s stock after selling 42,945 shares during the period. Metis Global Partners LLC’s holdings in PG&E were worth $1,222,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Planned Solutions Inc. bought a new stake in PG&E in the fourth quarter valued at approximately $37,000. CVA Family Office LLC bought a new stake in shares of PG&E in the 4th quarter valued at $43,000. Millburn Ridgefield Corp acquired a new stake in PG&E during the 3rd quarter worth $44,000. Catalyst Capital Advisors LLC bought a new position in PG&E during the third quarter worth about $44,000. Finally, Headlands Technologies LLC acquired a new position in PG&E in the third quarter valued at about $47,000. Institutional investors own 78.56% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

PCG has been the topic of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research 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. The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Barclays raised their price objective 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 research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average price target of $19.11.

PG&E Stock Up 0.6 %

PG&E stock opened at $17.84 on Thursday. The company has a fifty day simple moving average of $16.73 and a 200 day simple moving average of $16.97. 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 1-year low of $14.71 and a 1-year high of $18.32. The company has a market cap of $51.37 billion, a P/E ratio of 15.93 and a beta of 1.26.

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

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.01 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s dividend payout ratio is presently 3.57%.

PG&E Company 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.