Kentucky Retirement Systems Has $3.03 Million Position in PG&E Co. (NYSE:PCG)

Kentucky Retirement Systems lifted its stake in shares of PG&E Co. (NYSE:PCG) by 0.9% during the 4th quarter, HoldingsChannel reports. The firm owned 150,234 shares of the utilities provider’s stock after acquiring an additional 1,327 shares during the period. Kentucky Retirement Systems’ holdings in PG&E were worth $3,032,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Versant Capital Management Inc grew its stake in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares during the last quarter. Commerce Bank boosted its holdings in shares of PG&E by 1.5% during the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after acquiring an additional 712 shares in the last quarter. Baker Tilly Wealth Management LLC grew its position in PG&E by 4.6% during the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 715 shares during the last quarter. Continuum Advisory LLC increased its holdings in PG&E by 11.4% in the 3rd quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 769 shares in the last quarter. Finally, iA Global Asset Management Inc. raised its position in PG&E by 2.6% in the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock valued at $624,000 after purchasing an additional 812 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Price Performance

PCG stock opened at $15.94 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company’s fifty day simple moving average is $17.50 and its 200 day simple moving average is $19.10. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72. The firm has a market cap of $42.57 billion, a price-to-earnings ratio of 13.86, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (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 company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the business earned $0.47 EPS. On average, 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 declared a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.63%. PG&E’s payout ratio is 8.70%.

Insider Transactions at PG&E

In related news, Director Arno Lockheart Harris acquired 6,389 shares of the business’s stock in a transaction dated Thursday, February 20th. The shares were bought at an average price of $15.66 per share, with a total value of $100,051.74. Following the transaction, the director now directly owns 14,864 shares of the company’s stock, valued at $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 1,460,222 shares of the company’s stock, valued at $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. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on PCG shares. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday. Morgan Stanley lowered shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $16.50 in a report on Friday, February 14th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. Barclays reduced their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research note on Monday, January 27th. Finally, UBS Group lowered their target price on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and an average target price of $22.23.

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.