PG&E Co. (NYSE:PCG) Stock Holdings Trimmed by State of Michigan Retirement System

State of Michigan Retirement System lowered its position in shares of PG&E Co. (NYSE:PCG) by 0.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 643,960 shares of the utilities provider’s stock after selling 5,000 shares during the quarter. State of Michigan Retirement System’s holdings in PG&E were worth $12,995,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in PCG. International Assets Investment Management LLC raised its position in shares of PG&E by 4,623.1% during the 3rd quarter. International Assets Investment Management LLC now owns 34,006 shares of the utilities provider’s stock valued at $672,000 after acquiring an additional 33,286 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in PG&E by 17.6% during the third quarter. Janney Montgomery Scott LLC now owns 80,874 shares of the utilities provider’s stock valued at $1,599,000 after purchasing an additional 12,092 shares during the last quarter. National Pension Service raised its holdings in shares of PG&E by 3.1% during the third quarter. National Pension Service now owns 2,893,429 shares of the utilities provider’s stock worth $57,203,000 after purchasing an additional 85,983 shares during the period. Catalyst Capital Advisors LLC lifted its position in shares of PG&E by 98.5% in the 3rd quarter. Catalyst Capital Advisors LLC now owns 4,340 shares of the utilities provider’s stock worth $86,000 after buying an additional 2,154 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of PG&E by 6.6% in the 3rd quarter. Principal Financial Group Inc. now owns 2,722,110 shares of the utilities provider’s stock worth $53,816,000 after buying an additional 169,503 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Down 1.7 %

Shares of PG&E stock opened at $16.15 on Wednesday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72. The business’s fifty day moving average price is $16.99 and its two-hundred day moving average price is $19.01. The company has a market capitalization of $43.13 billion, a P/E ratio of 14.04, a PEG ratio of 1.09 and a beta of 0.99.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. The business had revenue of $6.63 billion for the quarter, compared to analysts’ expectations 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 earnings per share. As a group, research analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.62%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Insider Activity

In other news, Director Arno Lockheart Harris acquired 6,389 shares of the company’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 purchase, the director now owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total value of $532,368.77. Following the completion of the sale, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on PCG shares. BMO Capital Markets boosted their price objective on shares of PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Tuesday, February 18th. Guggenheim lowered PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. UBS Group dropped their price target on PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley lowered PG&E from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $20.00 to $16.50 in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

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.