First Trust Direct Indexing L.P. Has $502,000 Stock Holdings in PG&E Co. (NYSE:PCG)

First Trust Direct Indexing L.P. trimmed its position in shares of PG&E Co. (NYSE:PCGFree Report) by 16.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,932 shares of the utilities provider’s stock after selling 5,984 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in PG&E were worth $502,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in PCG. Planned Solutions Inc. bought a new stake in PG&E during the fourth quarter worth about $37,000. Vima LLC bought a new stake in PG&E during the fourth quarter worth about $41,000. CVA Family Office LLC bought a new stake in PG&E during the fourth quarter worth about $43,000. Pacific Capital Wealth Advisors Inc. bought a new stake in PG&E during the fourth quarter worth about $47,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in PG&E during the fourth quarter worth about $54,000. 78.56% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction on 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of PCG stock opened at $17.23 on Friday. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.95. The stock has a market cap of $49.61 billion, a PE ratio of 15.38 and a beta of 1.08. 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’s 50 day moving average price is $17.94 and its two-hundred day moving average price is $17.23.

PG&E (NYSE:PCGGet Free Report) last announced its quarterly earnings data 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 firm had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The business’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same period last year, the firm earned $0.29 earnings per share. As a group, analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.23%. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Morgan Stanley decreased their price objective on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Mizuho increased their price target on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Barclays decreased their price target on shares of PG&E from $22.00 to $21.00 and set an “overweight” rating on the stock in a research note on Monday, June 17th. The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and increased their price target for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $20.11.

Check Out Our Latest Research Report on PG&E

About PG&E

(Free Report)

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.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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