PG&E Co. (NYSE:PCG) Shares Acquired by New York State Teachers Retirement System

New York State Teachers Retirement System boosted its stake in shares of PG&E Co. (NYSE:PCG) by 0.9% in the second quarter, HoldingsChannel reports. The firm owned 1,946,642 shares of the utilities provider’s stock after purchasing an additional 17,309 shares during the quarter. New York State Teachers Retirement System’s holdings in PG&E were worth $33,988,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PCG. Wells Fargo & Company MN boosted its position in PG&E by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after acquiring an additional 182,279 shares during the period. Crestline Management LP boosted its position in PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after acquiring an additional 183,767 shares during the period. Jupiter Asset Management Ltd. acquired a new position in PG&E during the 1st quarter worth $2,153,000. Dai ichi Life Insurance Company Ltd boosted its position in PG&E by 379.0% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after acquiring an additional 60,525 shares during the period. Finally, Hsbc Holdings PLC boosted its position in PG&E by 24.7% during the 4th quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock worth $51,680,000 after acquiring an additional 567,929 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on PCG shares. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Barclays boosted their price objective on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Mizuho boosted their price objective on PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $22.00 in a research note on Monday, June 10th. Finally, Morgan Stanley boosted their price objective on PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday. 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 data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $20.67.

Insider Activity at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is owned by insiders.

PG&E Stock Up 0.9 %

Shares of PG&E stock opened at $18.80 on Friday. The stock’s fifty day moving average is $17.95 and its 200-day moving average is $17.42. The firm has a market capitalization of $54.13 billion, a PE ratio of 16.79 and a beta of 1.09. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. PG&E’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.23 earnings per share. Equities analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Profile

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.