Public Employees Retirement System of Ohio Has $15.35 Million Stock Holdings in PG&E Co. (NYSE:PCG)

Public Employees Retirement System of Ohio trimmed its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 776,555 shares of the utilities provider's stock after selling 38,715 shares during the period. Public Employees Retirement System of Ohio's holdings in PG&E were worth $15,352,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of PCG. Ballentine Partners LLC boosted its position in PG&E by 3.1% during the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider's stock valued at $392,000 after purchasing an additional 666 shares during the last quarter. Commerce Bank raised its position in shares of PG&E by 1.5% in the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider's stock valued at $930,000 after purchasing an additional 712 shares during the period. Alta Advisers Ltd lifted its stake 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 worth $86,000 after buying an additional 800 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in shares of PG&E by 2.6% during the 3rd quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider's stock worth $624,000 after buying an additional 812 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in PG&E by 14.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider's stock valued at $125,000 after buying an additional 863 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PCG. Barclays raised their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Monday, October 21st. Bank of America initiated coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a "buy" rating and a $24.00 target price for the company. Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the company an "outperform" rating in a research note on Wednesday, November 27th. UBS Group lifted their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock a "buy" rating in a research note on Tuesday, September 3rd. Finally, Morgan Stanley boosted their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an "equal weight" rating in a report on Wednesday, September 25th. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and a consensus price target of $23.10.

PG&E Price Performance

Shares of NYSE:PCG traded down $0.06 during midday trading on Wednesday, hitting $19.82. The stock had a trading volume of 11,210,439 shares, compared to its average volume of 14,356,556. The company's 50-day moving average price is $20.51 and its 200-day moving average price is $19.24. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The company has a market capitalization of $51.82 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $6.58 billion. During the same period last year, the firm posted $0.24 earnings per share. The firm's quarterly revenue was up .9% compared to the same quarter last year. As a group, equities research analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.025 per share. This is an increase from PG&E's previous quarterly dividend of $0.01. This represents a $0.10 annualized dividend and a dividend yield of 0.50%. The ex-dividend date is Tuesday, December 31st. PG&E's dividend payout ratio is currently 7.81%.

Insider Activity at PG&E

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

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.