PG&E Co. (NYSE:PCG) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP reduced its stake in PG&E Co. (NYSE:PCG) by 12.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,649,459 shares of the utilities provider’s stock after selling 949,348 shares during the quarter. PG&E makes up approximately 1.4% of Artemis Investment Management LLP’s investment portfolio, making the stock its 13th largest position. Artemis Investment Management LLP owned about 0.31% of PG&E worth $111,400,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Raymond James Trust N.A. grew its position in PG&E by 4.2% in the fourth quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock worth $307,000 after acquiring an additional 680 shares during the period. Bleakley Financial Group LLC grew its holdings in shares of PG&E by 1.5% during the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after purchasing an additional 691 shares during the period. Parallel Advisors LLC increased its position in shares of PG&E by 2.1% during the 4th quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 712 shares during the last quarter. Glenmede Trust Co. NA raised its holdings in PG&E by 5.5% in the 3rd quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider’s stock valued at $258,000 after buying an additional 835 shares during the period. Finally, Caprock Group LLC lifted its position in PG&E by 5.1% in the fourth quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider’s stock valued at $370,000 after buying an additional 999 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the sale, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

PG&E Stock Down 0.1 %

Shares of PCG stock traded down $0.02 during trading hours on Friday, reaching $17.46. 22,298,902 shares of the stock were exchanged, compared to its average volume of 14,792,671. The business’s fifty day moving average is $17.91 and its two-hundred day moving average is $17.26. The firm has a market capitalization of $50.27 billion, a P/E ratio of 15.61 and a beta of 1.19. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.95. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. As a group, research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend is Friday, June 28th. PG&E’s dividend payout ratio (DPR) is 3.57%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PCG. The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Barclays cut their target price on PG&E from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Monday, June 17th. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Citigroup increased their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, Morgan Stanley dropped their target price on PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a research report on Monday. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $20.11.

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.