Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 6,022 Shares of PG&E Co. (NYSE:PCG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS lowered its stake in shares of PG&E Co. (NYSE:PCG) by 0.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,060,455 shares of the utilities provider’s stock after selling 6,022 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS owned approximately 0.16% of PG&E worth $81,940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCG. FMR LLC raised its position in PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares during the last quarter. State Street Corp increased its stake in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after buying an additional 5,191,463 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after acquiring an additional 536,914 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock valued at $598,142,000 after acquiring an additional 1,822,835 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris acquired 6,389 shares of the company’s stock in a transaction on Thursday, February 20th. The stock was acquired at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the purchase, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.15% of the stock is owned by company insiders.

PG&E Price Performance

Shares of PCG opened at $17.11 on Thursday. The company has a 50 day moving average of $16.21 and a 200-day moving average of $18.82. 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 stock has a market capitalization of $45.72 billion, a P/E ratio of 14.88, a P/E/G ratio of 1.09 and a beta of 1.04. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.31. The firm had revenue of $6.63 billion for the quarter, compared to analyst estimates of $7.29 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. During the same period in the previous year, the business earned $0.47 EPS. As a group, equities research analysts forecast that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCG. BMO Capital Markets boosted their price target on shares of PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. Morgan Stanley cut shares of PG&E from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $20.00 to $16.50 in a research report on Friday, February 14th. Barclays reduced their price target on PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a research report on Monday, January 27th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $19.00 in a report on Wednesday. Finally, Mizuho raised their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday, November 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.95.

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.