New York State Common Retirement Fund Decreases Stock Holdings in PG&E Co. (NYSE:PCG)

New York State Common Retirement Fund trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 4.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,844,870 shares of the utilities provider’s stock after selling 89,411 shares during the quarter. New York State Common Retirement Fund’s holdings in PG&E were worth $37,229,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Versant Capital Management Inc increased its position in shares of PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 626 shares during the last quarter. Commerce Bank increased its position in shares of PG&E by 1.5% during the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after acquiring an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC increased its position in shares of PG&E by 4.6% during the fourth quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock valued at $330,000 after acquiring an additional 715 shares during the last quarter. Continuum Advisory LLC increased its position in shares of PG&E by 11.4% during the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock valued at $157,000 after acquiring an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. increased its position in shares of PG&E by 2.6% during the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock valued at $624,000 after acquiring an additional 812 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PCG has been the subject of a number of research analyst reports. UBS Group decreased their price target on PG&E from $24.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, January 30th. BMO Capital Markets raised their target price on PG&E from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Tuesday. Mizuho raised their target price on PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 27th. Guggenheim downgraded PG&E from a “buy” rating to a “neutral” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reissued an “overweight” rating and issued a $22.00 target price on shares of PG&E in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and an average price target of $22.23.

Insider Activity at PG&E

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the sale, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by corporate insiders.

PG&E Price Performance

PG&E stock opened at $15.71 on Friday. PG&E Co. has a one year low of $14.99 and a one year high of $21.72. The business has a fifty day moving average price of $17.57 and a 200-day moving average price of $19.12. The company has a debt-to-equity ratio of 1.86, a current ratio of 1.05 and a quick ratio of 1.00. The firm has a market capitalization of $41.95 billion, a P/E ratio of 13.66, a PEG ratio of 1.07 and a beta of 0.99.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, February 13th. The utilities provider reported $0.31 EPS for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 10.94% and a net margin of 10.27%. The firm had revenue of $6.63 billion during the quarter, compared to analyst estimates of $7.29 billion. During the same period last year, the company earned $0.47 earnings per share. As a group, equities research analysts forecast that PG&E Co. will post 1.49 EPS for the current year.

About PG&E

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.