Elo Mutual Pension Insurance Co Sells 1,658 Shares of PG&E Co. (NYSE:PCG)

Elo Mutual Pension Insurance Co trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 183,537 shares of the utilities provider’s stock after selling 1,658 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in PG&E were worth $3,205,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA increased its position in shares of PG&E by 17.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock worth $1,779,352,000 after acquiring an additional 14,998,472 shares during the period. Balyasny Asset Management L.P. bought a new position in PG&E in the fourth quarter worth approximately $142,612,000. Capital International Investors increased its holdings in PG&E by 7.1% during the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock worth $2,093,198,000 after purchasing an additional 7,681,566 shares during the period. Vanguard Group Inc. raised its position in PG&E by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after purchasing an additional 5,635,693 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of PG&E by 534.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 6,314,611 shares of the utilities provider’s stock worth $113,852,000 after buying an additional 5,319,289 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Morgan Stanley lifted their price objective on PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Barclays upped their price target on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Finally, Citigroup lifted their price target on PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $21.45.

PG&E Stock Performance

Shares of PCG opened at $19.59 on Friday. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $20.65. The stock has a fifty day moving average price of $18.78 and a 200-day moving average price of $17.84. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. The firm has a market cap of $51.23 billion, a PE ratio of 17.49 and a beta of 1.01.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping the consensus estimate 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 the consensus estimate of $5.86 billion. During the same quarter last year, the company earned $0.23 earnings per share. The company’s quarterly revenue was up 13.2% on a year-over-year basis. Equities research analysts predict that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a filing with the SEC, which is available at this link. 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.