Baker Tilly Wealth Management LLC Sells 7,504 Shares of PG&E Co. (NYSE:PCG)

Baker Tilly Wealth Management LLC lowered its stake in shares of PG&E Co. (NYSE:PCG) by 32.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,622 shares of the utilities provider’s stock after selling 7,504 shares during the quarter. Baker Tilly Wealth Management LLC’s holdings in PG&E were worth $309,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of PCG. Rothschild Investment LLC bought a new position in PG&E during the 2nd quarter worth approximately $30,000. UMB Bank n.a. boosted its position in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares during the period. Plato Investment Management Ltd bought a new stake in shares of PG&E in the 2nd quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV raised its stake in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on PCG shares. Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Jefferies Financial Group assumed coverage on PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price for the company. UBS Group lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America initiated coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Finally, Morgan Stanley boosted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Trading Up 0.7 %

PG&E stock opened at $20.51 on Tuesday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The firm has a 50-day moving average of $19.77 and a 200-day moving average of $18.50. The company has a market cap of $53.64 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.56 and a beta of 1.01. PG&E Co. has a one year low of $15.90 and a one year high of $20.93.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is 3.42%.

Insider Transactions at PG&E

In related news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 in the company, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

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.