State of New Jersey Common Pension Fund D Sells 13,468 Shares of PG&E Co. (NYSE:PCG)

State of New Jersey Common Pension Fund D cut its holdings in PG&E Co. (NYSE:PCG) by 1.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 746,362 shares of the utilities provider’s stock after selling 13,468 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PG&E were worth $15,062,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Versant Capital Management Inc increased its position in PG&E by 68.3% during the fourth quarter. Versant Capital Management Inc now owns 1,543 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 626 shares during the last quarter. Commerce Bank grew its holdings in PG&E by 1.5% during the 3rd quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after purchasing an additional 712 shares during the last quarter. Baker Tilly Wealth Management LLC raised its position in PG&E by 4.6% in the 4th quarter. Baker Tilly Wealth Management LLC now owns 16,337 shares of the utilities provider’s stock worth $330,000 after purchasing an additional 715 shares during the period. Continuum Advisory LLC lifted its stake in PG&E by 11.4% in the third quarter. Continuum Advisory LLC now owns 7,501 shares of the utilities provider’s stock worth $157,000 after purchasing an additional 769 shares during the last quarter. Finally, iA Global Asset Management Inc. lifted its stake in PG&E by 2.6% in the third quarter. iA Global Asset Management Inc. now owns 31,545 shares of the utilities provider’s stock worth $624,000 after purchasing an additional 812 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 3.5 %

PG&E stock opened at $15.30 on Tuesday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm has a market cap of $40.00 billion, a P/E ratio of 11.95, a P/E/G ratio of 1.09 and a beta of 0.99. The business has a fifty day moving average of $17.83 and a two-hundred day moving average of $19.18. PG&E Co. has a twelve month low of $14.99 and a twelve month high of $21.72.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 13th. The utilities provider reported $0.31 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.31. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm had revenue of $6.63 billion during the quarter, compared to analysts’ expectations of $7.29 billion. During the same period in the prior year, the business posted $0.47 EPS. On average, analysts forecast that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Patricia K. Poppe sold 55,555 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares in the company, valued at $30,168,186.52. The trade was a 3.67 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. restated an “overweight” rating and set a $22.00 price objective on shares of PG&E in a report on Wednesday, February 12th. UBS Group cut their price target on shares of PG&E from $24.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, January 30th. BMO Capital Markets began coverage on shares of PG&E in a report on Monday, January 13th. They set an “outperform” rating and a $21.00 price objective for the company. Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. Finally, Morgan Stanley downgraded shares of PG&E from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $20.00 to $16.50 in a research note on Friday. One analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, PG&E currently has a consensus rating of “Moderate Buy” and an average target price of $22.05.

PG&E Company Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.