PG&E Co. (NYSE:PCG) Shares Sold by Farther Finance Advisors LLC

Farther Finance Advisors LLC trimmed its position in shares of PG&E Co. (NYSE:PCG) by 14.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,878 shares of the utilities provider’s stock after selling 6,698 shares during the quarter. Farther Finance Advisors LLC’s holdings in PG&E were worth $808,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in PG&E by 2.0% during the first quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock worth $4,731,888,000 after purchasing an additional 5,635,693 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in PG&E by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock worth $2,113,882,000 after purchasing an additional 2,176,931 shares in the last quarter. Capital International Investors raised its holdings in PG&E by 4.4% during the first 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 in the last quarter. King Street Capital Management L.P. purchased a new position in PG&E during the second quarter worth about $1,964,250,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in PG&E by 17.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock worth $1,779,352,000 after purchasing an additional 14,998,472 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s 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 sale, the vice president now owns 19,114 shares in the company, valued at approximately $350,168.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.15% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on PCG. UBS Group increased their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley increased their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Bank of America began coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Barclays increased their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

PG&E Stock Down 0.4 %

PCG stock opened at $19.95 on Tuesday. The company’s 50 day simple moving average is $19.94 and its 200-day simple moving average is $18.66. The firm has a market capitalization of $52.17 billion, a PE ratio of 17.05, a P/E/G ratio of 1.55 and a beta of 1.03. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $20.93. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.20%. PG&E’s dividend payout ratio (DPR) is currently 3.42%.

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.