PG&E Co. (NYSE:PCG) Shares Sold by Capital World Investors

Capital World Investors decreased its position in PG&E Co. (NYSE:PCG) by 45.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 283,581 shares of the utilities provider’s stock after selling 235,000 shares during the quarter. Capital World Investors’ holdings in PG&E were worth $4,753,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Planned Solutions Inc. acquired a new position in PG&E in the fourth quarter worth $37,000. Vima LLC acquired a new position in shares of PG&E in the 4th quarter valued at about $41,000. CVA Family Office LLC bought a new stake in shares of PG&E during the 4th quarter valued at about $43,000. Pacific Capital Wealth Advisors Inc. acquired a new stake in PG&E during the fourth quarter worth about $47,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in PG&E in the fourth quarter worth about $54,000. 78.56% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on PCG shares. Morgan Stanley lowered their target price on PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Citigroup increased their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research report on Friday, June 14th. The Goldman Sachs Group initiated coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price on the stock. Mizuho upped their price target on shares of PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Finally, JPMorgan Chase & Co. raised shares of PG&E from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $19.00 to $22.00 in a research note on Monday, June 10th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average target price of $20.40.

PG&E Stock Performance

PCG stock opened at $18.03 on Friday. The company has a 50-day simple moving average of $17.96 and a 200 day simple moving average of $17.24. The company has a market capitalization of $51.91 billion, a P/E ratio of 16.10 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 fifty-two week low of $14.71 and a fifty-two week high of $18.95.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.01. The company had revenue of $5.99 billion for the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.91%. PG&E’s revenue was up 13.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.23 EPS. Sell-side analysts predict that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.22%. The ex-dividend date of this dividend was Friday, June 28th. PG&E’s payout ratio is currently 3.57%.

Insider Activity

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.15% of the stock is owned by insiders.

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.