California Public Employees Retirement System Acquires 136,825 Shares of PG&E Co. (NYSE:PCG)

California Public Employees Retirement System grew its holdings in PG&E Co. (NYSE:PCG) by 2.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 6,843,477 shares of the utilities provider’s stock after acquiring an additional 136,825 shares during the period. California Public Employees Retirement System’s holdings in PG&E were worth $138,101,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PCG. Glenmede Trust Co. NA lifted its stake in PG&E by 15.9% in the third quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider’s stock worth $415,000 after acquiring an additional 2,878 shares during the period. Rockefeller Capital Management L.P. lifted its position in shares of PG&E by 3.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider’s stock worth $544,000 after purchasing an additional 928 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PG&E during the 3rd quarter valued at about $5,551,000. Paloma Partners Management Co purchased a new position in shares of PG&E during the third quarter valued at about $1,493,000. Finally, Atom Investors LP raised its stake in PG&E by 13.1% in the third quarter. Atom Investors LP now owns 61,292 shares of the utilities provider’s stock worth $1,212,000 after buying an additional 7,096 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling at PG&E

In other PG&E news, Director Arno Lockheart Harris bought 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now owns 14,864 shares in the company, 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 SEC, which is accessible through this hyperlink. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. BMO Capital Markets increased their price objective on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a report on Tuesday, February 18th. Barclays dropped their target price on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. Morgan Stanley increased their price target on shares of PG&E from $16.50 to $17.50 and gave the stock an “underweight” rating in a research note on Thursday, March 20th. Finally, Guggenheim lowered shares of PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

PG&E Stock Performance

Shares of PCG opened at $16.98 on Monday. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The business’s fifty day simple moving average is $16.21 and its two-hundred day simple moving average is $18.67. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The company has a market cap of $45.35 billion, a price-to-earnings ratio of 14.76, a P/E/G ratio of 1.09 and a beta of 1.04.

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

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is presently 8.70%.

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.