Reaves W H & Co. Inc. Cuts Stock Holdings in PG&E Co. (NYSE:PCG)

Reaves W H & Co. Inc. lessened its position in PG&E Co. (NYSE:PCG - Free Report) by 26.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,216,847 shares of the utilities provider's stock after selling 800,175 shares during the period. Reaves W H & Co. Inc. owned 0.08% of PG&E worth $39,970,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Trust N.A. grew its holdings in PG&E by 4.2% in the fourth quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider's stock worth $307,000 after purchasing an additional 680 shares during the period. Bleakley Financial Group LLC lifted its position in PG&E by 1.5% during the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider's stock valued at $817,000 after purchasing an additional 691 shares during the period. Signaturefd LLC lifted its position in PG&E by 10.9% during the third quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider's stock valued at $130,000 after purchasing an additional 794 shares during the period. Glenmede Trust Co. NA raised its position in PG&E by 5.5% in the third quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider's stock worth $258,000 after acquiring an additional 835 shares during the period. Finally, Caprock Group LLC raised its position in PG&E by 5.1% in the fourth quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider's stock worth $370,000 after acquiring an additional 999 shares during the period. Institutional investors own 78.56% of the company's stock.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the company's stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the sale, the chief executive officer now owns 1,515,777 shares of the company's stock, valued at approximately $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.15% of the company's stock.

Analysts Set New Price Targets

PCG has been the topic of a number of research reports. StockNews.com upgraded shares of PG&E from a "sell" rating to a "hold" rating in a report on Thursday, February 1st. JPMorgan Chase & Co. lifted their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a "neutral" rating in a research note on Tuesday, April 23rd. Barclays boosted their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday, April 26th. Finally, The Goldman Sachs Group started coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a "buy" rating and a $21.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, PG&E presently has an average rating of "Moderate Buy" and an average target price of $19.11.

PG&E Trading Down 0.4 %

PCG stock traded down $0.07 during midday trading on Friday, hitting $17.83. 12,271,165 shares of the company's stock were exchanged, compared to its average volume of 11,731,446. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.32. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08. The business has a 50-day simple moving average of $16.77 and a two-hundred day simple moving average of $17.00. The stock has a market capitalization of $51.34 billion, a PE ratio of 15.92 and a beta of 1.26.

PG&E (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company had revenue of $5.86 billion during the quarter, compared to the consensus estimate of $6.60 billion. During the same period in the previous year, the business earned $0.29 EPS. PG&E's revenue for the quarter was down 5.6% on a year-over-year basis. On average, sell-side analysts predict that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.22%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E's payout ratio is 3.57%.

About PG&E

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.

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