PG&E Co. (NYSE:PCG) Shares Sold by Teacher Retirement System of Texas

Teacher Retirement System of Texas decreased its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 40.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,279 shares of the utilities provider's stock after selling 15,246 shares during the quarter. Teacher Retirement System of Texas' holdings in PG&E were worth $450,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. State Street Corp raised its stake 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 acquiring an additional 5,191,463 shares during the period. Geode Capital Management LLC lifted its holdings in PG&E by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider's stock worth $981,960,000 after buying an additional 536,914 shares in the last quarter. Wellington Management Group LLP boosted its holdings in PG&E by 6.4% in the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider's stock valued at $598,142,000 after purchasing an additional 1,822,835 shares during the period. Franklin Resources Inc. boosted its stake in shares of PG&E by 4.1% in the 3rd quarter. Franklin Resources Inc. now owns 17,116,725 shares of the utilities provider's stock valued at $346,443,000 after buying an additional 681,369 shares during the period. Finally, Brookfield Corp ON grew its holdings in PG&E by 45.6% during the 3rd quarter. Brookfield Corp ON now owns 12,643,085 shares of the utilities provider's stock worth $249,954,000 after acquiring an additional 3,958,495 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Remove Ads

Insiders Place Their Bets

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

Analyst Ratings Changes

PCG has been the topic of a number of recent analyst reports. BMO Capital Markets increased their price objective on PG&E from $21.00 to $23.00 and gave the company an "outperform" rating in a report on Tuesday, February 18th. Morgan Stanley increased their price objective 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 report on Tuesday, February 18th. Barclays dropped their target price on PG&E from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Monday, January 27th. Finally, JPMorgan Chase & Co. reissued an "overweight" rating and set a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PG&E has an average rating of "Moderate Buy" and an average target price of $22.05.

PG&E Price Performance

NYSE PCG traded up $0.15 during trading hours on Wednesday, reaching $17.42. The company's stock had a trading volume of 28,627,754 shares, compared to its average volume of 15,938,790. The company has a debt-to-equity ratio of 1.86, a quick ratio of 1.00 and a current ratio of 1.05. The company's 50-day moving average is $16.21 and its two-hundred day moving average is $18.64. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The stock has a market cap of $46.53 billion, a PE ratio of 15.15, a PEG ratio of 1.09 and a beta of 1.04.

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, hitting analysts' consensus estimates of $0.31. The firm had revenue of $6.63 billion during the quarter, compared to analysts' expectations of $7.29 billion. PG&E had a return on equity of 10.94% and a net margin of 10.27%. During the same quarter last year, the business posted $0.47 EPS. Analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

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

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.