PG&E Co. (NYSE:PCG) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio reduced its holdings in shares of PG&E Co. (NYSE:PCG) by 9.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 797,283 shares of the utilities provider’s stock after selling 79,374 shares during the period. Public Employees Retirement System of Ohio’s holdings in PG&E were worth $13,362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its position in PG&E by 19.1% during the 4th quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock valued at $20,493,000 after buying an additional 182,279 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in PG&E by 9.0% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock valued at $16,639,000 after buying an additional 76,178 shares in the last quarter. Crestline Management LP increased its position in PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock valued at $10,426,000 after buying an additional 183,767 shares in the last quarter. Jupiter Asset Management Ltd. purchased a new stake in PG&E during the 1st quarter valued at about $2,153,000. Finally, Dai ichi Life Insurance Company Ltd grew its stake in PG&E by 379.0% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock valued at $1,379,000 after purchasing an additional 60,525 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction that occurred on 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 completion of the sale, the chief executive officer now 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 SEC, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

PG&E Price Performance

Shares of PG&E stock traded up $0.35 during mid-day trading on Monday, reaching $18.38. 7,794,630 shares of the stock traded hands, compared to its average volume of 14,367,865. The business has a 50-day moving average of $17.96 and a 200 day moving average of $17.23. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.95. The stock has a market capitalization of $48.07 billion, a PE ratio of 16.40 and a beta of 1.08. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The business’s revenue was up 13.2% compared to the same quarter last year. On average, analysts predict that PG&E Co. will post 1.35 EPS for the current year.

PG&E Dividend Announcement

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

Analysts Set New Price Targets

Several analysts have weighed in on the company. Mizuho boosted their price target on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Morgan Stanley dropped their price target on PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. The Goldman Sachs Group assumed coverage on PG&E in a research note on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target on the stock. Wells Fargo & Company boosted their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday. Finally, JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.40.

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.