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

Teacher Retirement System of Texas reduced its position in shares of PG&E Co. (NYSE:PCG) by 40.6% in the 4th quarter, HoldingsChannel reports. The firm owned 22,279 shares of the utilities provider’s stock after selling 15,246 shares during the period. Teacher Retirement System of Texas’ holdings in PG&E were worth $450,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in PCG. Versant Capital Management Inc raised its stake in shares of PG&E by 68.3% during the 4th quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock worth $31,000 after buying an additional 626 shares in the last quarter. Baker Tilly Wealth Management LLC raised its position in PG&E by 4.6% in the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after acquiring an additional 715 shares in the last quarter. Continuum Advisory LLC lifted its holdings in PG&E by 11.4% in the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 769 shares during the period. iA Global Asset Management Inc. boosted its position 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 purchasing an additional 812 shares in the last quarter. Finally, Clarius Group LLC grew its stake in shares of PG&E by 8.2% during the 4th quarter. Clarius Group LLC now owns 11,038 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 833 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Up 1.1 %

Shares of PCG stock opened at $17.19 on Tuesday. The company has a market capitalization of $45.91 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 1.09 and a beta of 1.04. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm has a 50-day moving average price of $16.21 and a 200 day moving average price of $18.65. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.31. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Research analysts forecast that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.58%. The ex-dividend date of this dividend is Monday, March 31st. PG&E’s dividend payout ratio (DPR) is 8.70%.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of research analyst reports. Barclays decreased their price objective on shares of PG&E from $24.00 to $23.00 and set an “overweight” rating on the stock in a report on Monday, January 27th. BMO Capital Markets boosted their price target on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 18th. UBS Group downgraded PG&E from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. JPMorgan Chase & Co. reiterated an “overweight” rating and set a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. Finally, Morgan Stanley raised their price target on PG&E from $16.50 to $17.50 and gave the company an “underweight” rating in a research report on Thursday, March 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.05.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,521 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the completion of the transaction, the executive vice president now owns 183,635 shares of the company’s stock, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arno Lockheart Harris purchased 6,389 shares of the firm’s stock in a transaction on Thursday, February 20th. The stock was bought at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the acquisition, the director now owns 14,864 shares in the company, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.15% of the company’s stock.

PG&E 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.