Public Employees Retirement Association of Colorado Sells 8,207 Shares of PG&E Co. (NYSE:PCG)

Public Employees Retirement Association of Colorado cut its stake in PG&E Co. (NYSE:PCG) by 3.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 207,370 shares of the utilities provider’s stock after selling 8,207 shares during the quarter. Public Employees Retirement Association of Colorado’s holdings in PG&E were worth $3,621,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Wells Fargo & Company MN lifted its position in shares of PG&E by 19.1% during the fourth quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock worth $20,493,000 after purchasing an additional 182,279 shares during the last quarter. Crestline Management LP lifted its stake in shares of PG&E by 46.6% during the 4th quarter. Crestline Management LP now owns 578,241 shares of the utilities provider’s stock worth $10,426,000 after purchasing an additional 183,767 shares during the last quarter. Jupiter Asset Management Ltd. bought a new stake in PG&E during the first quarter valued at about $2,153,000. Hsbc Holdings PLC boosted its position in PG&E by 24.7% during the fourth quarter. Hsbc Holdings PLC now owns 2,868,488 shares of the utilities provider’s stock valued at $51,680,000 after purchasing an additional 567,929 shares in the last quarter. Finally, Caden Capital Partners LP purchased a new position in PG&E in the fourth quarter valued at about $24,759,000. 78.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

PCG has been the topic of several analyst reports. Morgan Stanley lifted their target price on PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. 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. Barclays lifted their price objective on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. Finally, Citigroup raised 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. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.45.

PG&E Stock Up 2.4 %

PCG opened at $20.08 on Monday. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $20.65. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The company has a fifty day moving average of $18.82 and a two-hundred day moving average of $17.88. 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.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $5.99 billion for the quarter, compared to analyst estimates of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.23 earnings per share. On average, research analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

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

About PG&E

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.