PG&E Co. (NYSE:PCG) Shares Sold by Capital Group Private Client Services Inc.

Capital Group Private Client Services Inc. cut its holdings in shares of PG&E Co. (NYSE:PCG) by 48.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 804,077 shares of the utilities provider’s stock after selling 759,682 shares during the quarter. Capital Group Private Client Services Inc.’s holdings in PG&E were worth $13,476,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Axxcess Wealth Management LLC increased its stake in shares of PG&E by 3.5% in the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock worth $305,000 after buying an additional 614 shares during the last quarter. Raymond James Trust N.A. increased its position in shares of PG&E by 4.2% in the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock worth $307,000 after purchasing an additional 680 shares during the last quarter. Bleakley Financial Group LLC raised its stake in shares of PG&E by 1.5% in the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 691 shares in the last quarter. Global Retirement Partners LLC lifted its position in shares of PG&E by 8.0% during the first quarter. Global Retirement Partners LLC now owns 9,275 shares of the utilities provider’s stock worth $155,000 after purchasing an additional 691 shares during the last quarter. Finally, Parallel Advisors LLC lifted its position in shares of PG&E by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock worth $639,000 after purchasing an additional 712 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PCG has been the topic of several research reports. Barclays upped their price objective on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Monday. The Goldman Sachs Group assumed coverage on PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target on the stock. Morgan Stanley decreased their price objective on shares of PG&E from $18.00 to $17.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Mizuho increased their target price 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. 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 research report on Friday. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.40.

PG&E Stock Performance

Shares of PG&E stock traded up $0.01 during trading on Friday, hitting $18.03. 10,978,911 shares of the stock were exchanged, compared to its average volume of 14,413,831. The company has a debt-to-equity ratio of 2.08, a quick ratio of 0.93 and a current ratio of 0.99. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.95. The stock’s fifty day moving average is $17.97 and its 200 day moving average is $17.24. The stock has a market cap of $51.91 billion, a PE ratio of 16.16 and a beta of 1.08.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.30 by $0.01. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.05% and a return on equity of 11.32%. PG&E’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.23 EPS. As a group, sell-side analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The firm also recently announced 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 annualized dividend and a yield of 0.22%. The ex-dividend date was Friday, June 28th. PG&E’s payout ratio is currently 3.57%.

Insiders Place Their Bets

In related news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is currently 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.