National Pension Service Sells 197,912 Shares of PG&E Co. (NYSE:PCG)

National Pension Service trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 6.8% in the 4th quarter, Holdings Channel reports. The firm owned 2,695,517 shares of the utilities provider’s stock after selling 197,912 shares during the quarter. National Pension Service’s holdings in PG&E were worth $54,396,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. FMR LLC raised its holdings 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 valued at $3,496,115,000 after acquiring an additional 8,604,396 shares in the last quarter. State Street Corp raised its holdings in shares of PG&E by 5.0% in the third 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 in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PG&E by 2.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock valued at $2,072,824,000 after acquiring an additional 2,936,763 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of PG&E by 1.1% in the third quarter. Geode Capital Management LLC now owns 49,837,059 shares of the utilities provider’s stock valued at $981,960,000 after acquiring an additional 536,914 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in shares of 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 acquiring an additional 1,822,835 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors.

PG&E Trading Down 0.6 %

Shares of PCG stock opened at $15.95 on Friday. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The company has a market cap of $42.59 billion, a price-to-earnings ratio of 13.87, a PEG ratio of 1.09 and a beta of 0.99. The stock has a 50 day simple moving average of $17.29 and a 200-day simple moving average of $19.07. PG&E Co. has a 1-year low of $14.99 and a 1-year high of $21.72.

PG&E (NYSE:PCG) 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. On average, equities research analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.63%. The ex-dividend date is Monday, March 31st. PG&E’s dividend payout ratio is currently 8.70%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PCG shares. Barclays decreased their price objective on PG&E from $24.00 to $23.00 and set an “overweight” rating for the company in a report on Monday, January 27th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a report on Tuesday, February 18th. Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $20.00 to $16.50 in a report on Friday, February 14th. 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 report on Wednesday, November 27th. Finally, JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $22.00 target price on shares of PG&E in a report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.23.

Insider Activity at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was 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 directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This represents a 3.67 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 price of $15.66 per share, with a total value of $100,051.74. Following the completion of the acquisition, the director now 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 disclosure for this purchase can be found here. 0.15% of the stock is owned by corporate insiders.

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.