Public Employees Retirement System of Ohio Sells 42,049 Shares of PG&E Co. (NYSE:PCG)

Public Employees Retirement System of Ohio lowered its stake in PG&E Co. (NYSE:PCG - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 734,506 shares of the utilities provider's stock after selling 42,049 shares during the period. Public Employees Retirement System of Ohio's holdings in PG&E were worth $14,822,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PCG. True Wealth Design LLC grew its holdings in PG&E by 1,233.6% during the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after acquiring an additional 1,690 shares during the period. Colonial Trust Co SC grew its holdings in PG&E by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after acquiring an additional 1,627 shares during the period. Optiver Holding B.V. grew its holdings in PG&E by 23.9% during the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after acquiring an additional 825 shares during the period. First Horizon Advisors Inc. grew its holdings in PG&E by 746.0% during the 4th quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after acquiring an additional 4,819 shares during the period. Finally, Sierra Ocean LLC acquired a new stake in PG&E during the 4th quarter worth $111,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. Evercore ISI boosted their price target on shares of PG&E from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. JPMorgan Chase & Co. reissued an "overweight" rating and issued a $22.00 price target on shares of PG&E in a report on Wednesday, February 12th. Wells Fargo & Company reissued an "overweight" rating and issued a $24.00 price target on shares of PG&E in a report on Friday, April 25th. UBS Group lowered shares of PG&E from a "buy" rating to a "neutral" rating and decreased their price target for the company from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Morgan Stanley set a $18.00 price target on shares of PG&E and gave the company an "underweight" rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PG&E currently has a consensus rating of "Moderate Buy" and an average price target of $20.75.

PG&E Stock Down 1.4%

NYSE:PCG traded down $0.25 on Friday, hitting $16.83. 4,441,854 shares of the company's stock were exchanged, compared to its average volume of 16,431,808. The firm has a 50-day moving average price of $17.06 and a 200-day moving average price of $17.75. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. PG&E Co. has a 52 week low of $14.99 and a 52 week high of $21.72. The company has a market cap of $45.01 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). PG&E had a net margin of 10.27% and a return on equity of 10.94%. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter last year, the company posted $0.37 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, analysts expect that PG&E Co. will post 1.49 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.59%. PG&E's payout ratio is presently 9.17%.

Insider Transactions at PG&E

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the transaction, the executive vice president now owns 151,116 shares of the company's stock, valued at $2,614,306.80. This represents a 17.71% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is currently owned by 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.