Intech Investment Management LLC Sells 123,458 Shares of PG&E Co. (NYSE:PCG)

Intech Investment Management LLC reduced its stake in shares of PG&E Co. (NYSE:PCG) by 25.1% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 367,839 shares of the utilities provider’s stock after selling 123,458 shares during the period. Intech Investment Management LLC’s holdings in PG&E were worth $6,165,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PCG. Raymond James Trust N.A. grew its holdings in PG&E by 4.2% during the fourth quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock valued at $307,000 after purchasing an additional 680 shares during the period. Bleakley Financial Group LLC lifted its position in shares of PG&E by 1.5% during the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after acquiring an additional 691 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of PG&E by 8.0% during the first quarter. Global Retirement Partners LLC now owns 9,275 shares of the utilities provider’s stock worth $155,000 after acquiring an additional 691 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of PG&E by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 712 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in shares of PG&E by 8.0% during the first quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock worth $207,000 after acquiring an additional 917 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Trading Up 0.8 %

Shares of NYSE:PCG traded up $0.15 on Friday, reaching $18.00. 9,903,249 shares of the company traded hands, compared to its average volume of 13,109,433. The business’s 50-day simple moving average is $17.97 and its 200 day simple moving average is $17.23. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.95. The stock has a market capitalization of $51.83 billion, a P/E ratio of 16.07 and a beta of 1.08. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

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

PG&E Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s payout ratio is presently 3.57%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PCG. Barclays dropped 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. The Goldman Sachs Group initiated coverage on PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective on the stock. Citigroup increased their price objective on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $22.00 in a research report on Monday, June 10th. Finally, Mizuho raised their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.11.

Insider Buying and Selling

In related 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 value of $1,007,720.00. Following the sale, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.15% of the stock is owned by insiders.

PG&E Company 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.