USS Investment Management Ltd Lowers Stock Holdings in PG&E Co. (NYSE:PCG)

USS Investment Management Ltd decreased its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 27.6% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 361,111 shares of the utilities provider's stock after selling 137,901 shares during the period. USS Investment Management Ltd's holdings in PG&E were worth $7,296,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of PCG. Woodline Partners LP acquired a new stake in PG&E in the 4th quarter worth approximately $2,649,000. Zimmer Partners LP raised its holdings in shares of PG&E by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock worth $255,506,000 after buying an additional 5,814,624 shares during the last quarter. Zurich Insurance Group Ltd FI lifted its stake in shares of PG&E by 272.5% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 3,560,305 shares of the utilities provider's stock worth $71,847,000 after buying an additional 2,604,445 shares during the period. Vennlight Capital Management LP acquired a new stake in shares of PG&E during the fourth quarter worth $7,465,000. Finally, Vident Advisory LLC purchased a new stake in shares of PG&E during the fourth quarter valued at $261,000. Institutional investors and hedge funds own 78.56% of the company's stock.

PG&E Stock Performance

Shares of PCG stock traded up $0.04 on Tuesday, hitting $17.09. The company had a trading volume of 3,379,904 shares, compared to its average volume of 16,421,113. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72. The company has a quick ratio of 1.00, a current ratio of 1.05 and a debt-to-equity ratio of 1.86. The firm has a market cap of $45.71 billion, a P/E ratio of 14.86, a price-to-earnings-growth ratio of 1.09 and a beta of 0.63. The company has a 50-day moving average price of $17.06 and a 200-day moving average price of $17.79.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (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 period in the previous year, the firm posted $0.37 earnings per share. The company's revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts predict that PG&E Co. will post 1.49 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.59%. PG&E's dividend payout ratio is currently 9.17%.

Insider Buying and Selling

In other PG&E news, EVP Carla J. Peterman sold 32,519 shares of PG&E stock in a transaction 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 approximately $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.14% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCG. Barclays reduced their target price on PG&E from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. BMO Capital Markets cut their price objective on PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Guggenheim raised their price objective on PG&E from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Mizuho upped their target price on PG&E from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Finally, Evercore ISI increased their price target on shares of PG&E from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $20.75.

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.