Cbre Investment Management Listed Real Assets LLC Sells 77,854 Shares of PG&E Co. (NYSE:PCG)

Cbre Investment Management Listed Real Assets LLC lessened its holdings in shares of PG&E Co. (NYSE:PCG) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,707,019 shares of the utilities provider’s stock after selling 77,854 shares during the period. Cbre Investment Management Listed Real Assets LLC owned approximately 0.10% of PG&E worth $48,808,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Signaturefd LLC lifted its stake in PG&E by 10.9% in the third quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock valued at $130,000 after buying an additional 794 shares in the last quarter. Ieq Capital LLC increased its holdings in PG&E by 31.8% during the 3rd quarter. Ieq Capital LLC now owns 19,017 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 4,590 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of PG&E by 23.7% in the 3rd quarter. Victory Capital Management Inc. now owns 786,845 shares of the utilities provider’s stock valued at $12,692,000 after purchasing an additional 150,598 shares during the period. Assenagon Asset Management S.A. lifted its holdings in shares of PG&E by 4.9% in the third quarter. Assenagon Asset Management S.A. now owns 31,923 shares of the utilities provider’s stock valued at $515,000 after purchasing an additional 1,503 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its position in shares of PG&E by 28.7% during the third quarter. Retirement Systems of Alabama now owns 472,852 shares of the utilities provider’s stock worth $7,627,000 after buying an additional 105,440 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the transaction, the chief executive officer now directly owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. Morgan Stanley boosted their target price on PG&E from $16.00 to $18.00 and gave the company an “equal weight” rating in a research note on Tuesday. The Goldman Sachs Group assumed coverage on shares of PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a research note on Tuesday, April 23rd. Barclays increased their price objective on shares of PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a research note on Friday, April 26th. Finally, Mizuho lifted their target price on PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average price target of $19.75.

PG&E Stock Performance

Shares of PCG stock traded up $0.26 on Friday, reaching $18.54. The stock had a trading volume of 21,054,840 shares, compared to its average volume of 12,015,707. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.95. The firm has a market capitalization of $53.38 billion, a price-to-earnings ratio of 16.56 and a beta of 1.26. The firm’s 50-day moving average is $17.38 and its two-hundred day moving average is $17.20. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s revenue for the quarter was down 5.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.29 EPS. On average, research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 annualized dividend and a yield of 0.22%. PG&E’s dividend payout ratio (DPR) is presently 3.57%.

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.