Amalgamated Bank Has $9.50 Million Stock Position in PG&E Co. (NYSE:PCG)

Amalgamated Bank cut its holdings in shares of PG&E Co. (NYSE:PCG) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 526,795 shares of the utilities provider’s stock after selling 84,605 shares during the quarter. Amalgamated Bank’s holdings in PG&E were worth $9,498,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Planned Solutions Inc. acquired a new stake in PG&E in the 4th quarter worth $37,000. CVA Family Office LLC acquired a new stake in PG&E during the fourth quarter worth about $43,000. Millburn Ridgefield Corp bought a new position in PG&E during the third quarter valued at about $44,000. Catalyst Capital Advisors LLC acquired a new position in PG&E in the 3rd quarter valued at approximately $44,000. Finally, Headlands Technologies LLC bought a new stake in shares of PG&E in the 3rd quarter worth approximately $47,000. 78.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of NYSE:PCG traded up $0.04 during midday trading on Friday, reaching $17.57. The company’s stock had a trading volume of 12,813,177 shares, compared to its average volume of 11,748,601. The business’s fifty day simple moving average is $16.65 and its 200-day simple moving average is $16.94. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The company has a market capitalization of $37.55 billion, a P/E ratio of 15.69 and a beta of 1.26.

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

PG&E Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts have commented on PCG shares. Barclays raised their price target on shares of PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. The Goldman Sachs Group began coverage on 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. increased their price objective on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 23rd. Finally, StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $19.11.

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.