PG&E Co. (NYSE:PCG) Shares Sold by State of Tennessee Department of Treasury

State of Tennessee Department of Treasury lessened its holdings in PG&E Co. (NYSE:PCG - Free Report) by 21.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 456,234 shares of the utilities provider's stock after selling 124,984 shares during the quarter. State of Tennessee Department of Treasury's holdings in PG&E were worth $9,207,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky increased its stake in shares of PG&E by 3.9% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 546,169 shares of the utilities provider's stock worth $11,022,000 after acquiring an additional 20,722 shares during the period. MML Investors Services LLC grew its position in PG&E by 51.3% during the 4th quarter. MML Investors Services LLC now owns 89,459 shares of the utilities provider's stock worth $1,805,000 after purchasing an additional 30,349 shares during the period. MetLife Investment Management LLC raised its stake in shares of PG&E by 4.0% during the 4th quarter. MetLife Investment Management LLC now owns 577,791 shares of the utilities provider's stock valued at $11,660,000 after buying an additional 21,994 shares during the last quarter. Norinchukin Bank The lifted its holdings in shares of PG&E by 16.1% in the 4th quarter. Norinchukin Bank The now owns 108,583 shares of the utilities provider's stock valued at $2,191,000 after buying an additional 15,073 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of PG&E by 20.3% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 129,883 shares of the utilities provider's stock worth $2,621,000 after buying an additional 21,953 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

PG&E Price Performance

Shares of PG&E stock opened at $17.58 on Thursday. The stock has a market capitalization of $46.96 billion, a P/E ratio of 15.29, a PEG ratio of 1.09 and a beta of 0.70. The business has a 50 day simple moving average of $16.60 and a two-hundred day simple moving average of $18.30. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, meeting the consensus estimate 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 during the quarter, compared to the consensus estimate of $7.29 billion. During the same period in the prior year, the company earned $0.47 EPS. As a group, analysts predict that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.025 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.10 annualized dividend and a yield of 0.57%. PG&E's dividend payout ratio is presently 8.70%.

Analyst Ratings Changes

PCG has been the subject of a number of analyst reports. Morgan Stanley boosted their price target on PG&E from $16.50 to $17.50 and gave the company an "underweight" rating in a report on Thursday, March 20th. Guggenheim cut shares of PG&E from a "buy" rating to a "neutral" rating in a research note on Tuesday, February 18th. BMO Capital Markets dropped their price target on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. UBS Group downgraded shares of 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 research report on Wednesday, March 19th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 target price on shares of PG&E in a research note on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, PG&E currently has a consensus rating of "Moderate Buy" and an average target price of $21.75.

Insider Activity at PG&E

In related news, Director Arno Lockheart Harris bought 6,389 shares of the company's stock in a transaction on Thursday, February 20th. The stock was bought at an average cost of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now directly owns 14,864 shares in the company, valued at $232,770.24. This represents a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the firm's stock in a transaction 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 completion of the sale, the executive vice president now directly owns 183,635 shares of the company's stock, valued at $3,006,104.95. This trade represents a 15.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.15% of the stock is owned by corporate insiders.

About PG&E

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.

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