California Public Employees Retirement System Acquires 136,825 Shares of PG&E Co. (NYSE:PCG)

California Public Employees Retirement System lifted its position in PG&E Co. (NYSE:PCG - Free Report) by 2.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,843,477 shares of the utilities provider's stock after acquiring an additional 136,825 shares during the period. California Public Employees Retirement System owned approximately 0.26% of PG&E worth $138,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Versant Capital Management Inc increased its position in shares of PG&E by 68.3% in the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock valued at $31,000 after buying an additional 626 shares in the last quarter. UMB Bank n.a. increased its holdings in shares of PG&E by 61.5% in the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after acquiring an additional 1,506 shares in the last quarter. First Horizon Advisors Inc. raised its position in shares of PG&E by 746.0% during the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after purchasing an additional 4,819 shares during the period. Sierra Ocean LLC bought a new position in shares of PG&E during the 4th quarter valued at about $111,000. Finally, Exchange Traded Concepts LLC increased its stake in PG&E by 32.4% during the 4th quarter. Exchange Traded Concepts LLC now owns 6,240 shares of the utilities provider's stock worth $126,000 after purchasing an additional 1,526 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

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PG&E Stock Performance

Shares of PCG traded down $0.04 during midday trading on Thursday, reaching $17.40. The stock had a trading volume of 15,262,212 shares, compared to its average volume of 15,939,810. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a 50 day simple moving average of $16.23 and a 200-day simple moving average of $18.63. The firm has a market cap of $46.47 billion, a PE ratio of 15.13, a P/E/G ratio of 1.09 and a beta of 1.04. PG&E Co. has a one year low of $14.99 and a one year high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts' consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion for the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the previous year, the business earned $0.47 earnings per share. As a group, sell-side analysts anticipate that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.025 dividend. The ex-dividend date is Monday, March 31st. This represents a $0.10 annualized dividend and a dividend yield of 0.57%. PG&E's dividend payout ratio is currently 8.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a report on Tuesday, February 18th. BMO Capital Markets boosted their price target on PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. UBS Group downgraded PG&E from a "buy" rating to a "neutral" rating and decreased their price objective for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. Morgan Stanley boosted their target price on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a research note on Thursday, March 20th. Finally, Barclays decreased their price target on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating for the company in a research note on Monday, January 27th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, PG&E has a consensus rating of "Moderate Buy" and an average target price of $22.05.

Insider Buying and Selling at PG&E

In other news, Director Arno Lockheart Harris acquired 6,389 shares of PG&E stock in a transaction dated Thursday, February 20th. The stock was bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the acquisition, the director now directly owns 14,864 shares in the company, valued at approximately $232,770.24. The trade was a 75.39 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total value of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at approximately $3,006,104.95. This trade represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

PG&E Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.