PG&E Co. (NYSE:PCG) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of PG&E Co. (NYSE:PCG) by 3.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 269,495 shares of the utilities provider’s stock after selling 10,229 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PG&E were worth $4,705,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA increased its position in PG&E by 17.3% in 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 buying an additional 14,998,472 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of PG&E in the 4th quarter worth about $142,612,000. Capital International Investors lifted its position in PG&E by 7.1% in the 4th quarter. Capital International Investors now owns 116,093,791 shares of the utilities provider’s stock valued at $2,093,198,000 after purchasing an additional 7,681,566 shares during the last quarter. Vanguard Group Inc. boosted its stake 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 during the period. Finally, Goldman Sachs Group Inc. boosted its stake in PG&E by 534.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 6,314,611 shares of the utilities provider’s stock valued at $113,852,000 after purchasing an additional 5,319,289 shares during the period. Institutional investors own 78.56% of the company’s stock.

Insider Activity at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’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 completion of the sale, the vice president now directly owns 19,114 shares of the company’s stock, valued at $350,168.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is currently owned by corporate insiders.

PG&E Stock Performance

NYSE:PCG opened at $20.08 on Friday. The company has a 50-day moving average of $18.82 and a 200-day moving average of $17.87. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 17.93, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $20.65.

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

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued 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 dividend payout ratio is 3.57%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PCG shares. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. UBS Group lifted their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Barclays raised 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. raised shares of PG&E from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Finally, Morgan Stanley increased their target price on shares of PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Three investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $21.45.

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.