Capital Group Private Client Services Inc. Sells 759,682 Shares of PG&E Co. (NYSE:PCG)

Capital Group Private Client Services Inc. decreased its holdings in shares of PG&E Co. (NYSE:PCG) by 48.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 804,077 shares of the utilities provider’s stock after selling 759,682 shares during the period. Capital Group Private Client Services Inc.’s holdings in PG&E were worth $13,476,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Planned Solutions Inc. bought a new position in shares of PG&E during the fourth quarter valued at approximately $37,000. Vima LLC bought a new position in PG&E in the 4th quarter worth $41,000. CVA Family Office LLC purchased a new stake in shares of PG&E in the 4th quarter worth about $43,000. Pacific Capital Wealth Advisors Inc. bought a new stake in shares of PG&E during the 4th quarter valued at about $47,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in shares of PG&E during the fourth quarter valued at about $54,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on PCG. Mizuho raised their price objective on shares of PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Wells Fargo & Company lifted their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday. JPMorgan Chase & Co. upgraded PG&E from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price on the stock. Finally, Citigroup upped their target price on shares of PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $20.40.

Insider Transactions at PG&E

In related news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the sale, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at approximately $25,889,471.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Up 0.1 %

PG&E stock traded up $0.01 during trading hours on Friday, hitting $18.03. The stock had a trading volume of 10,978,911 shares, compared to its average volume of 14,413,831. The stock’s 50-day moving average price is $17.97 and its 200-day moving average price is $17.24. The stock has a market capitalization of $51.91 billion, a P/E ratio of 16.16 and a beta of 1.08. 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 Co. has a 12-month low of $14.71 and a 12-month high of $18.95.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The firm 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 company posted $0.23 earnings per share. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts anticipate that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were given a $0.01 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s payout ratio is 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.