California State Teachers Retirement System Decreases Position in PG&E Co. (NYSE:PCG)

California State Teachers Retirement System lowered its stake in PG&E Co. (NYSE:PCG - Free Report) by 1.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,628,359 shares of the utilities provider's stock after selling 48,120 shares during the period. California State Teachers Retirement System owned approximately 0.14% of PG&E worth $73,220,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Versant Capital Management Inc lifted its holdings in shares of PG&E by 68.3% in the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider's stock worth $31,000 after acquiring an additional 626 shares during the last quarter. UMB Bank n.a. grew its holdings in shares of PG&E by 61.5% during the fourth quarter. UMB Bank n.a. now owns 3,956 shares of the utilities provider's stock worth $80,000 after purchasing an additional 1,506 shares during the last quarter. Optiver Holding B.V. increased its stake in shares of PG&E by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after buying an additional 825 shares during the period. First Horizon Advisors Inc. increased its stake in shares of PG&E by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock valued at $110,000 after buying an additional 4,819 shares during the period. Finally, Sierra Ocean LLC bought a new position in PG&E in the 4th quarter valued at approximately $111,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Insider Transactions at PG&E

In other news, Director Arno Lockheart Harris purchased 6,389 shares of the business's stock in a transaction that occurred on Thursday, February 20th. The shares were acquired at an average cost of $15.66 per share, for a total transaction 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 trade represents a 75.39 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Carla J. Peterman sold 32,521 shares of PG&E stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now directly owns 183,635 shares in the company, valued at approximately $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.14% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCG. BMO Capital Markets reduced their target price on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group raised their target price on PG&E from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Wells Fargo & Company reiterated an "overweight" rating and issued a $24.00 price target on shares of PG&E in a research report on Friday, April 25th. Morgan Stanley reissued an "underweight" rating on shares of PG&E in a research note on Wednesday, April 23rd. Finally, Guggenheim lifted 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. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, PG&E currently has an average rating of "Moderate Buy" and a consensus target price of $21.13.

PG&E Trading Up 1.6 %

PCG stock traded up $0.26 during mid-day trading on Friday, reaching $16.93. The company's stock had a trading volume of 12,963,656 shares, compared to its average volume of 16,503,066. The company has a market cap of $45.30 billion, a price-to-earnings ratio of 14.72, a price-to-earnings-growth ratio of 1.09 and a beta of 0.70. PG&E Co. has a 12 month low of $14.99 and a 12 month high of $21.72. The business's 50 day moving average price is $16.77 and its 200 day moving average price is $18.19. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86.

PG&E (NYSE:PCG - Get Free Report) last issued its 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 firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the previous year, the firm earned $0.37 earnings per share. The business's quarterly revenue was up 2.1% on a year-over-year basis. On average, equities research analysts predict that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.59%. The ex-dividend date was Monday, March 31st. PG&E's dividend payout ratio is currently 9.17%.

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.