Oppenheimer Asset Management Inc. Sells 111,276 Shares of PG&E Co. (NYSE:PCG)

Oppenheimer Asset Management Inc. trimmed its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 19.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 460,934 shares of the utilities provider's stock after selling 111,276 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in PG&E were worth $9,113,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Axxcess Wealth Management LLC lifted its holdings in shares of PG&E by 3.5% in the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider's stock worth $305,000 after buying an additional 614 shares in the last quarter. Ballentine Partners LLC lifted its stake in PG&E by 3.1% in the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider's stock worth $392,000 after purchasing an additional 666 shares in the last quarter. Alta Advisers Ltd grew its position in shares of PG&E by 19.5% during the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 800 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of PG&E by 14.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider's stock worth $125,000 after purchasing an additional 863 shares during the period. Finally, Signaturefd LLC raised its position in shares of PG&E by 9.8% in the third quarter. Signaturefd LLC now owns 11,280 shares of the utilities provider's stock worth $223,000 after buying an additional 1,009 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on PCG shares. Wells Fargo & Company upped their target price on PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. UBS Group lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a research report on Tuesday, September 3rd. Jefferies Financial Group initiated coverage on shares of PG&E in a report on Monday, October 14th. They issued a "buy" rating and a $24.00 price target on the stock. Bank of America started 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. Finally, Morgan Stanley increased their target price on PG&E from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat, PG&E presently has an average rating of "Moderate Buy" and an average price target of $22.80.

PG&E Trading Down 1.4 %

NYSE:PCG traded down $0.29 during mid-day trading on Thursday, reaching $20.99. 10,024,638 shares of the company's stock traded hands, compared to its average volume of 13,776,772. The company has a 50 day moving average price of $20.10 and a 200-day moving average price of $18.83. The firm has a market capitalization of $54.89 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 1.63 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.51.

PG&E (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm's revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 earnings per share. On average, sell-side analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E's payout ratio is 3.13%.

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.