PG&E Co. (NYSE:PCG) Shares Sold by New Mexico Educational Retirement Board

New Mexico Educational Retirement Board decreased its holdings in PG&E Co. (NYSE:PCG) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,900 shares of the utilities provider’s stock after selling 2,600 shares during the period. New Mexico Educational Retirement Board’s holdings in PG&E were worth $2,056,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the business. FMR LLC grew its stake in shares of PG&E by 5.1% in the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after acquiring an additional 8,604,396 shares in the last quarter. State Street Corp grew its stake in shares of PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after purchasing an additional 5,191,463 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after purchasing an additional 2,936,763 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of PG&E by 1.1% during the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock worth $981,960,000 after purchasing an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after purchasing an additional 1,822,835 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PCG opened at $15.30 on Monday. PG&E Co. has a fifty-two week low of $14.99 and a fifty-two week high of $21.72. The company has a market capitalization of $40.00 billion, a price-to-earnings ratio of 11.95, a price-to-earnings-growth ratio of 1.09 and a beta of 0.99. The firm has a 50-day simple moving average of $17.93 and a 200-day simple moving average of $19.21. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting the consensus estimate of $0.31. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $6.63 billion during the quarter, compared to the consensus estimate of $7.29 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. On average, equities research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

PCG has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $20.00 to $16.50 in a research note on Friday. BMO Capital Markets initiated coverage on shares of PG&E in a research note on Monday, January 13th. They set an “outperform” rating and a $21.00 target price for the company. Mizuho boosted their target price 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. UBS Group decreased their price objective on shares of PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. restated an “overweight” rating and issued a $22.00 price objective on shares of PG&E in a research note on Wednesday, February 12th. One research analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $22.05.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.15% of the company’s stock.

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.