PG&E Co. (NYSE:PCG) Shares Sold by California State Teachers Retirement System

California State Teachers Retirement System trimmed its stake in PG&E Co. (NYSE:PCG) by 1.3% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 3,628,359 shares of the utilities provider’s stock after selling 48,120 shares during the quarter. California State Teachers Retirement System owned approximately 0.14% of PG&E worth $73,220,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc boosted its position in PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 626 shares during the period. Baker Tilly Wealth Management LLC raised its stake in shares of PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after purchasing an additional 715 shares in the last quarter. Level Four Advisory Services LLC lifted its holdings in PG&E by 7.5% in the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 772 shares during the period. Optiver Holding B.V. grew its position in PG&E by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock valued at $86,000 after buying an additional 825 shares in the last quarter. Finally, Clarius Group LLC increased its stake in PG&E by 8.2% during the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider’s stock valued at $223,000 after buying an additional 833 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Arno Lockheart Harris purchased 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was acquired at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred on 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 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 currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on PCG shares. JPMorgan Chase & Co. reaffirmed an “overweight” rating and issued a $22.00 price target on shares of PG&E in a research note on Wednesday, February 12th. UBS Group lowered PG&E from a “buy” rating to a “neutral” rating and decreased their price target for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Wells Fargo & Company reissued an “overweight” rating and issued a $24.00 price objective on shares of PG&E in a research note on Friday. Guggenheim raised their target price on PG&E from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, April 25th. Finally, BMO Capital Markets dropped their price target on shares of PG&E from $23.00 to $22.00 and set an “outperform” rating on the stock in a research report on Monday, April 14th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $21.13.

PG&E Stock Up 0.4 %

PCG stock opened at $17.35 on Wednesday. The company’s 50 day simple moving average is $16.75 and its 200-day simple moving average is $18.22. PG&E Co. has a 52-week low of $14.99 and a 52-week high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a market capitalization of $46.35 billion, a P/E ratio of 15.09, a P/E/G ratio of 1.09 and a beta of 0.70.

PG&E (NYSE:PCG) last released its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $5.98 billion during the quarter, compared to analysts’ expectations of $6.23 billion. During the same quarter in the previous year, the company earned $0.37 EPS. PG&E’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date was Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 9.17%.

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.