Teacher Retirement System of Texas Sells 168,288 Shares of PG&E Co. (NYSE:PCG)

Teacher Retirement System of Texas lessened its holdings in PG&E Co. (NYSE:PCG - Free Report) by 64.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 93,187 shares of the utilities provider's stock after selling 168,288 shares during the period. Teacher Retirement System of Texas' holdings in PG&E were worth $1,680,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Calton & Associates Inc. acquired a new position in shares of PG&E during the fourth quarter worth $259,000. Principal Securities Inc. bought a new position in PG&E in the fourth quarter valued at about $249,000. Locust Wood Capital Advisers LLC boosted its stake in shares of PG&E by 31.0% during the fourth quarter. Locust Wood Capital Advisers LLC now owns 5,838,058 shares of the utilities provider's stock valued at $105,260,000 after purchasing an additional 1,380,855 shares in the last quarter. Everpar Advisors LLC acquired a new stake in shares of PG&E during the fourth quarter valued at about $985,000. Finally, Pacific Capital Wealth Advisors Inc. bought a new stake in shares of PG&E during the fourth quarter worth about $47,000. Institutional investors and hedge funds own 78.56% of the company's stock.

PG&E Trading Up 0.8 %

PCG stock traded up $0.15 during mid-day trading on Friday, reaching $18.60. The company's stock had a trading volume of 12,617,249 shares, compared to its average volume of 12,296,064. The company has a market cap of $53.55 billion, a price-to-earnings ratio of 16.61 and a beta of 1.26. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.62. The business's 50 day moving average price is $16.94 and its 200 day moving average price is $17.08. The company has a current ratio of 0.99, a quick ratio of 0.93 and a debt-to-equity ratio of 2.08.

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

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E's dividend payout ratio is presently 3.57%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PCG shares. StockNews.com upgraded shares of PG&E from a "sell" rating to a "hold" rating in a research report on Thursday, February 1st. Mizuho boosted their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock a "buy" rating in a research note on Friday. Barclays raised their target price on PG&E from $20.00 to $21.00 and gave the stock an "overweight" rating in a research report on Friday, April 26th. The Goldman Sachs Group assumed coverage on PG&E in a research report on Wednesday, April 10th. They issued a "buy" rating and a $21.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price objective on PG&E from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 23rd. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $19.44.

Insider Activity at PG&E

In other 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 transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company's stock, valued at $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

PG&E Company Profile

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.