PG&E Co. (NYSE:PCG) Stake Lowered by Tredje AP fonden

Tredje AP fonden trimmed its position in shares of PG&E Co. (NYSE:PCG) by 1.6% in the 2nd quarter, Holdings Channel.com reports. The fund owned 315,880 shares of the utilities provider’s stock after selling 4,978 shares during the quarter. Tredje AP fonden’s holdings in PG&E were worth $5,515,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of PG&E by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after buying an additional 5,635,693 shares in the last quarter. JPMorgan Chase & Co. grew its position in PG&E by 1.8% in the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock worth $2,113,882,000 after acquiring an additional 2,176,931 shares in the last quarter. Capital International Investors increased its stake in shares of PG&E by 4.4% during the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock worth $2,030,641,000 after purchasing an additional 5,066,183 shares during the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of PG&E by 17.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock valued at $1,779,352,000 after purchasing an additional 14,998,472 shares in the last quarter. Finally, Third Point LLC lifted its stake in shares of PG&E by 1.8% in the 4th quarter. Third Point LLC now owns 57,860,000 shares of the utilities provider’s stock valued at $1,043,216,000 after purchasing an additional 1,000,000 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PCG shares. UBS Group increased their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company raised their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Barclays upped their target price on PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 30th. Citigroup lifted their price target on shares of PG&E from $19.00 to $21.00 and gave the company a “buy” rating in a research report on Friday, June 14th. Finally, Morgan Stanley upped their price objective on shares of PG&E from $18.00 to $19.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, PG&E presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.45.

PG&E Trading Down 1.8 %

Shares of PCG stock opened at $19.51 on Thursday. The firm has a market capitalization of $51.02 billion, a P/E ratio of 17.42 and a beta of 1.01. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $20.65. The firm’s fifty day simple moving average is $18.75 and its 200 day simple moving average is $17.83. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the previous year, the firm posted $0.23 EPS. The business’s revenue was up 13.2% compared to the same quarter last year. As a group, sell-side analysts predict that PG&E Co. will post 1.35 EPS for the current year.

Insider Buying and Selling at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the business’s 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 sale, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.15% of the company’s stock.

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.