PG&E Co. (NYSE:PCG) Shares Sold by Artemis Investment Management LLP

Artemis Investment Management LLP lessened its stake in PG&E Co. (NYSE:PCG) by 34.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,476,541 shares of the utilities provider’s stock after selling 2,396,860 shares during the quarter. PG&E comprises approximately 1.3% of Artemis Investment Management LLP’s holdings, making the stock its 20th biggest holding. Artemis Investment Management LLP owned approximately 0.16% of PG&E worth $88,501,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Rothschild Investment LLC acquired a new position in PG&E in the second quarter worth about $30,000. UMB Bank n.a. grew its stake in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares during the last quarter. Vima LLC acquired a new position in PG&E in the 4th quarter worth approximately $41,000. Blue Trust Inc. increased its holdings in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares during the period. Finally, Plato Investment Management Ltd acquired a new position in PG&E in the 2nd quarter valued at approximately $44,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Trading Down 0.3 %

Shares of PCG stock opened at $19.65 on Wednesday. The company has a 50-day simple moving average of $19.24 and a two-hundred day simple moving average of $18.18. 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 52-week low of $15.40 and a 52-week high of $20.65. The company has a market capitalization of $56.58 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.53 and a beta of 1.01.

PG&E (NYSE:PCG) last posted 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. The business had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. PG&E’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.23 earnings per share. Research analysts anticipate that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

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

Insiders Place Their Bets

In related news, VP Stephanie N. Williams sold 38,601 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares in the company, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Barclays lifted their price target on shares of PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research report on Tuesday, July 30th. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Citigroup upped their price target on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Finally, Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and an average price target of $21.55.

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.