PG&E Co. (NYSE:PCG) Shares Sold by Kentucky Retirement Systems

Kentucky Retirement Systems reduced its stake in shares of PG&E Co. (NYSE:PCG) by 0.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,039 shares of the utilities provider’s stock after selling 986 shares during the period. Kentucky Retirement Systems’ holdings in PG&E were worth $2,812,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Private Advisor Group LLC purchased a new stake in shares of PG&E in the fourth quarter valued at $231,000. Envestnet Portfolio Solutions Inc. boosted its stake in shares of PG&E by 12.7% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 13,183 shares of the utilities provider’s stock worth $238,000 after purchasing an additional 1,490 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of PG&E by 3.2% during the fourth quarter. Janney Montgomery Scott LLC now owns 59,788 shares of the utilities provider’s stock worth $1,078,000 after buying an additional 1,838 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of PG&E by 22.6% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 19,340 shares of the utilities provider’s stock valued at $349,000 after buying an additional 3,567 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in shares of PG&E by 18.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 70,077 shares of the utilities provider’s stock valued at $1,263,000 after buying an additional 11,094 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent analyst reports. Morgan Stanley lifted their target price on shares of PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays lifted 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. JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Finally, Citigroup boosted their target price on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a report on Friday, June 14th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $21.45.

Insider Activity

In other news, VP Stephanie N. Williams sold 38,601 shares of the company’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 directly owns 19,114 shares in the company, valued at $350,168.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $20.08 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The firm has a market capitalization of $57.82 billion, a P/E ratio of 17.93, a PEG ratio of 1.53 and a beta of 1.01. The firm has a fifty day moving average of $18.82 and a 200-day moving average of $17.86. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $20.65.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating 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 company had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. During the same period last year, the company posted $0.23 earnings per share. The firm’s revenue was up 13.2% compared to the same quarter last year. As a group, analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

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

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.