Turtle Creek Wealth Advisors LLC Invests $54,000 in PG&E Co. (NYSE:PCG)

Turtle Creek Wealth Advisors LLC bought a new position in PG&E Co. (NYSE:PCG) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,989 shares of the utilities provider’s stock, valued at approximately $54,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. International Assets Investment Management LLC lifted its stake in shares of PG&E by 84.9% in the fourth quarter. International Assets Investment Management LLC now owns 5,589 shares of the utilities provider’s stock worth $101,000 after buying an additional 2,566 shares in the last quarter. Strategic Blueprint LLC bought a new position in shares of PG&E in the fourth quarter worth approximately $267,000. Bleakley Financial Group LLC lifted its stake in shares of PG&E by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after buying an additional 691 shares in the last quarter. Meeder Advisory Services Inc. bought a new position in shares of PG&E in the fourth quarter worth approximately $206,000. Finally, Ceredex Value Advisors LLC bought a new position in shares of PG&E in the fourth quarter worth approximately $37,787,000. Institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on PCG shares. Barclays lowered their price objective on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group assumed coverage on shares of PG&E in a report on Wednesday. They set a “buy” rating and a $21.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and an average target price of $18.78.

PG&E Stock Performance

PCG opened at $16.47 on Friday. The stock has a market capitalization of $35.20 billion, a price-to-earnings ratio of 15.69 and a beta of 1.32. The company has a fifty day moving average of $16.51 and a 200 day moving average of $16.83. 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 debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The business had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.43 billion. During the same quarter last year, the business earned $0.26 earnings per share. As a group, sell-side 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, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.04 annualized dividend and a yield of 0.24%. PG&E’s dividend payout ratio (DPR) is currently 3.81%.

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.