PG&E Co. (NYSE:PCG) Shares Sold by Kentucky Retirement Systems Insurance Trust Fund

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in PG&E Co. (NYSE:PCG - Free Report) by 74.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,911 shares of the utilities provider's stock after selling 47,374 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund's holdings in PG&E were worth $321,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of PCG. FMR LLC raised its holdings in shares of PG&E by 5.1% in the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider's stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. State Street Corp raised its holdings in shares of PG&E by 5.0% in the 3rd quarter. State Street Corp now owns 108,953,808 shares of the utilities provider's stock valued at $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Brookfield Corp ON raised its holdings in shares of PG&E by 45.6% in the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider's stock valued at $249,954,000 after purchasing an additional 3,958,495 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in PG&E by 2.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider's stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in PG&E by 91.2% during the 3rd quarter. Duff & Phelps Investment Management Co. now owns 4,027,434 shares of the utilities provider's stock worth $79,622,000 after acquiring an additional 1,920,734 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Stock Performance

Shares of NYSE:PCG traded up $0.20 during midday trading on Friday, hitting $15.89. The stock had a trading volume of 13,869,219 shares, compared to its average volume of 27,705,178. The company has a market capitalization of $42.43 billion, a PE ratio of 13.81, a P/E/G ratio of 1.09 and a beta of 0.99. The stock has a 50 day moving average price of $17.57 and a two-hundred day moving average price of $19.12. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72.

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

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.63%. PG&E's dividend payout ratio is currently 8.70%.

Analyst Ratings Changes

Several equities research analysts recently commented on PCG shares. Morgan Stanley lowered shares of PG&E from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $20.00 to $16.50 in a research note on Friday, February 14th. UBS Group cut their price target on shares of PG&E from $24.00 to $22.00 and set a "buy" rating on the stock in a research note on Thursday, January 30th. Mizuho lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an "outperform" rating in a research note on Wednesday, November 27th. Barclays cut their price target on shares of PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Monday, January 27th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 price objective on shares of PG&E in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, PG&E has a consensus rating of "Moderate Buy" and an average target price of $22.23.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business's stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now owns 1,460,222 shares of the company's stock, valued at approximately $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.15% of the stock is owned by insiders.

PG&E Company 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.