Park Avenue Securities LLC Has $255,000 Stake in PG&E Co. (NYSE:PCG)

Park Avenue Securities LLC cut its stake in shares of PG&E Co. (NYSE:PCG) by 45.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 12,899 shares of the utilities provider’s stock after selling 10,856 shares during the quarter. Park Avenue Securities LLC’s holdings in PG&E were worth $255,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Teachers Retirement System of The State of Kentucky bought a new stake in PG&E in the fourth quarter valued at approximately $5,509,000. Virtu Financial LLC increased its position in shares of PG&E by 30.3% during the fourth quarter. Virtu Financial LLC now owns 42,430 shares of the utilities provider’s stock worth $765,000 after buying an additional 9,862 shares during the period. Goldman Sachs Group Inc. raised its stake in PG&E by 534.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 6,314,611 shares of the utilities provider’s stock worth $113,852,000 after buying an additional 5,319,289 shares during the last quarter. Wellington Management Group LLP lifted its holdings in PG&E by 11.9% in the fourth quarter. Wellington Management Group LLP now owns 18,817,037 shares of the utilities provider’s stock valued at $339,271,000 after buying an additional 1,999,157 shares during the period. Finally, PNC Financial Services Group Inc. boosted its position in PG&E by 18.8% during the fourth quarter. PNC Financial Services Group Inc. now owns 70,077 shares of the utilities provider’s stock valued at $1,263,000 after acquiring an additional 11,094 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. Barclays boosted their price target on PG&E from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Tuesday, July 30th. UBS Group raised their price objective 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. Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company raised their price target on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Three 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, PG&E has an average rating of “Moderate Buy” and an average target price of $21.80.

Insiders Place Their Bets

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total transaction of $707,170.32. Following the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by insiders.

PG&E Price Performance

Shares of NYSE PCG opened at $19.63 on Monday. The stock has a market cap of $56.52 billion, a price-to-earnings ratio of 17.53, a PEG ratio of 1.50 and a beta of 1.01. PG&E Co. has a fifty-two week low of $15.59 and a fifty-two week high of $20.65. The firm’s 50-day simple moving average is $19.31 and its 200 day simple moving average is $18.23. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90.

PG&E (NYSE:PCG) last announced its quarterly earnings results 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 return on equity of 11.76% and a net margin of 10.22%. The business had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. During the same quarter in the prior year, the company posted $0.23 earnings per share. PG&E’s revenue was up 13.2% compared to the same quarter last year. As a group, research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.20%. The ex-dividend date of this dividend is Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

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.