Zions Bancorporation N.A. Decreases Stake in PG&E Co. (NYSE:PCG)

Zions Bancorporation N.A. lessened its stake in shares of PG&E Co. (NYSE:PCG) by 20.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 13,417 shares of the utilities provider’s stock after selling 3,554 shares during the period. Zions Bancorporation N.A.’s holdings in PG&E were worth $234,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of PCG. Rothschild Investment LLC purchased a new stake in shares of PG&E during the second quarter valued at $30,000. UMB Bank n.a. grew its stake in PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the last quarter. Blue Trust Inc. increased its holdings in shares of PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after purchasing an additional 1,027 shares during the period. Vima LLC purchased a new position in shares of PG&E in the fourth quarter worth about $41,000. Finally, Tidemark LLC acquired a new stake in shares of PG&E during the fourth quarter worth about $54,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Buying and Selling

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.15% of the stock is currently owned by insiders.

Analyst Ratings Changes

PCG has been the topic of several research reports. Bank of America started coverage on shares of PG&E in a report on Thursday. They issued a “buy” rating and a $24.00 price target on the stock. Citigroup raised their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Wells Fargo & Company upped their price target on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, July 26th. UBS Group lifted their price objective on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays upped their target price on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $21.45.

PG&E Trading Up 0.5 %

Shares of PCG stock opened at $19.77 on Friday. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $20.65. The company has a market cap of $51.70 billion, a price-to-earnings ratio of 17.65 and a beta of 1.01. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86. The stock has a 50 day simple moving average of $18.61 and a 200-day simple moving average of $17.76.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The company had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. During the same period in the prior year, the business posted $0.23 earnings per share. The firm’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E 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.