Commonwealth of Pennsylvania Public School Empls Retrmt SYS Sells 6,022 Shares of PG&E Co. (NYSE:PCG)

Commonwealth of Pennsylvania Public School Empls Retrmt SYS trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 0.1% during the fourth quarter, Holdings Channel.com reports. The fund owned 4,060,455 shares of the utilities provider’s stock after selling 6,022 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in PG&E were worth $81,940,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of PCG. FMR LLC grew its position in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. State Street Corp boosted its stake in shares of PG&E by 5.0% in the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock valued at $2,155,093,000 after buying an additional 5,191,463 shares during the period. Brookfield Corp ON grew its position in PG&E by 45.6% during the third quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider’s stock worth $249,954,000 after buying an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the period. Finally, Duff & Phelps Investment Management Co. raised its holdings in PG&E by 91.2% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider’s stock valued at $79,622,000 after acquiring an additional 1,920,734 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of NYSE PCG opened at $17.11 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The company has a market capitalization of $45.72 billion, a PE ratio of 14.88, a P/E/G ratio of 1.09 and a beta of 1.04. The firm has a fifty day simple moving average of $16.21 and a 200 day simple moving average of $18.82. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The company had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the previous year, the business earned $0.47 EPS. On average, sell-side analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

Analysts Set New Price Targets

Several research firms recently weighed in on PCG. Mizuho upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. JPMorgan Chase & Co. reaffirmed an “overweight” rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. UBS Group cut shares of PG&E from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $19.00 in a research note on Wednesday. Guggenheim cut PG&E from a “buy” rating to a “neutral” rating in a research note on Tuesday, February 18th. Finally, BMO Capital Markets lifted their price target on PG&E from $21.00 to $23.00 and gave the company an “outperform” rating in a research note on Tuesday, February 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.95.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,521 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The stock was 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 directly owns 183,635 shares in the company, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction on Thursday, February 20th. The stock was purchased at an average cost of $15.66 per share, with a total value of $100,051.74. Following the purchase, the director now directly owns 14,864 shares of the company’s stock, valued at approximately $232,770.24. This trade represents a 75.39 % increase in their position. The disclosure for this purchase can be found here. 0.15% of the stock is currently owned by company insiders.

PG&E 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.