State of Tennessee Department of Treasury Sells 124,984 Shares of PG&E Co. (NYSE:PCG)

State of Tennessee Department of Treasury lessened its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 21.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 456,234 shares of the utilities provider's stock after selling 124,984 shares during the quarter. State of Tennessee Department of Treasury's holdings in PG&E were worth $9,207,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Czech National Bank increased its stake in shares of PG&E by 8.9% in the fourth quarter. Czech National Bank now owns 474,013 shares of the utilities provider's stock valued at $9,566,000 after buying an additional 38,590 shares during the period. New York State Teachers Retirement System raised its stake in shares of PG&E by 8.2% during the fourth quarter. New York State Teachers Retirement System now owns 1,974,070 shares of the utilities provider's stock valued at $39,837,000 after acquiring an additional 148,860 shares during the last quarter. McElhenny Sheffield Capital Management LLC bought a new stake in shares of PG&E in the fourth quarter worth $514,000. Atria Wealth Solutions Inc. acquired a new stake in PG&E in the fourth quarter valued at $466,000. Finally, Merit Financial Group LLC bought a new position in PG&E during the 4th quarter worth $336,000. Institutional investors and hedge funds own 78.56% of the company's stock.

Insiders Place Their Bets

In other news, Director Arno Lockheart Harris acquired 6,389 shares of the firm's stock in a transaction on Thursday, February 20th. The shares were purchased at an average price of $15.66 per share, for a total transaction of $100,051.74. Following the completion of the transaction, the director now owns 14,864 shares of the company's stock, valued at $232,770.24. The trade was a 75.39 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Carla J. Peterman sold 32,521 shares of the business's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $16.37, for a total transaction of $532,368.77. Following the transaction, the executive vice president now owns 183,635 shares in the company, valued at $3,006,104.95. This represents a 15.05 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.15% of the company's stock.

PG&E Stock Performance

Shares of PCG stock traded up $0.08 during trading on Tuesday, reaching $17.36. 4,051,706 shares of the company's stock traded hands, compared to its average volume of 16,363,695. PG&E Co. has a 1 year low of $14.99 and a 1 year high of $21.72. The company has a market capitalization of $46.36 billion, a P/E ratio of 15.09, a PEG ratio of 1.09 and a beta of 0.70. The company has a current ratio of 1.05, a quick ratio of 1.00 and a debt-to-equity ratio of 1.86. The firm's 50-day moving average is $16.71 and its 200 day moving average is $18.23.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly earnings data 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). The company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. PG&E had a net margin of 10.27% and a return on equity of 10.94%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.37 earnings per share. Equities research analysts expect that PG&E Co. will post 1.49 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a dividend of $0.025 per share. The ex-dividend date was Monday, March 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.58%. PG&E's payout ratio is 9.17%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Morgan Stanley reissued an "underweight" rating on shares of PG&E in a research note on Wednesday, April 23rd. JPMorgan Chase & Co. reaffirmed an "overweight" rating and set a $22.00 target price on shares of PG&E in a research note 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 research note on Friday. BMO Capital Markets dropped their target price on shares of PG&E from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, UBS Group downgraded 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 research note on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $21.13.

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.