Ensign Peak Advisors Inc Lowers Stake in PG&E Co. (NYSE:PCG)

Ensign Peak Advisors Inc cut its stake in PG&E Co. (NYSE:PCG) by 0.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,064,802 shares of the utilities provider’s stock after selling 51,841 shares during the quarter. Ensign Peak Advisors Inc owned about 0.27% of PG&E worth $123,351,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PCG. Axxcess Wealth Management LLC grew its stake in shares of PG&E by 3.5% during the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after acquiring an additional 614 shares during the last quarter. Ballentine Partners LLC grew its stake in shares of PG&E by 3.1% during the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock worth $392,000 after acquiring an additional 666 shares during the last quarter. Parallel Advisors LLC grew its stake 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 during the last quarter. Alta Advisers Ltd grew its stake in shares of PG&E by 19.5% during the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 800 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its stake 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 during the last quarter. 78.56% of the stock is owned by institutional investors.

Insider Buying and Selling at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 0.15% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on PCG shares. UBS Group boosted their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Citigroup lifted their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. Finally, Barclays boosted their price target on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $21.45.

PG&E Stock Up 2.4 %

Shares of PCG opened at $20.08 on Friday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a one year low of $14.71 and a one year high of $20.65. The stock has a market capitalization of $57.82 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.53 and a beta of 1.01. The stock has a 50 day moving average price of $18.82 and a 200 day moving average price of $17.86.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS 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 firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the previous year, the business earned $0.23 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date is Monday, September 30th. PG&E’s payout ratio is 3.57%.

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.