Livforsakringsbolaget Skandia Omsesidigt Reduces Holdings in PG&E Co. (NYSE:PCG)

Livforsakringsbolaget Skandia Omsesidigt lowered its holdings in shares of PG&E Co. (NYSE:PCG) by 65.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 2,200 shares of the utilities provider’s stock after selling 4,200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in PG&E were worth $44,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sanctuary Advisors LLC purchased a new stake in PG&E in the 2nd quarter valued at approximately $1,231,000. Atomi Financial Group Inc. acquired a new position in shares of PG&E in the third quarter worth $242,000. CWM LLC lifted its position in shares of PG&E by 71.7% in the third quarter. CWM LLC now owns 66,971 shares of the utilities provider’s stock valued at $1,324,000 after acquiring an additional 27,965 shares in the last quarter. Wedmont Private Capital increased its position in PG&E by 27.9% during the 3rd quarter. Wedmont Private Capital now owns 22,868 shares of the utilities provider’s stock worth $451,000 after purchasing an additional 4,991 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its stake in PG&E by 7.7% in the 3rd quarter. Contravisory Investment Management Inc. now owns 36,025 shares of the utilities provider’s stock valued at $712,000 after purchasing an additional 2,561 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

PCG stock opened at $15.34 on Friday. The company has a market cap of $40.13 billion, a PE ratio of 11.99, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The stock has a 50-day moving average price of $18.53 and a two-hundred day moving average price of $19.30. PG&E Co. has a 12-month low of $14.99 and a 12-month high of $21.72.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The business had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the previous year, the business earned $0.24 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. As a group, research analysts predict that PG&E Co. will post 1.36 EPS for the current year.

Insider Buying and Selling at PG&E

In other news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PCG shares. Barclays decreased their price target 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. Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. UBS Group cut their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, January 30th. BMO Capital Markets started coverage on PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective on the stock. Finally, Mizuho upped their target price on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research note on Wednesday, November 27th. One equities research analyst has rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $22.36.

PG&E Company Profile

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.