Retirement Systems of Alabama Trims Stake in PG&E Co. (NYSE:PCG)

Retirement Systems of Alabama trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 470,206 shares of the utilities provider’s stock after selling 2,646 shares during the quarter. Retirement Systems of Alabama’s holdings in PG&E were worth $8,478,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in PCG. Planned Solutions Inc. purchased a new position in PG&E during the fourth quarter worth about $37,000. CVA Family Office LLC purchased a new position in PG&E during the fourth quarter worth about $43,000. Millburn Ridgefield Corp purchased a new position in shares of PG&E in the 3rd quarter worth about $44,000. Catalyst Capital Advisors LLC purchased a new position in shares of PG&E in the 3rd quarter worth about $44,000. Finally, Headlands Technologies LLC purchased a new position in shares of PG&E in the 3rd quarter worth about $47,000. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Stock Up 0.2 %

Shares of NYSE:PCG opened at $17.57 on Friday. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.32. The firm has a market capitalization of $37.55 billion, a P/E ratio of 15.69 and a beta of 1.26. The stock has a 50 day moving average price of $16.65 and a 200-day moving average price of $16.94. 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 (NYSE:PCG) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The firm’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.29 EPS. As a group, equities research analysts anticipate that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.01 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.23%. PG&E’s payout ratio is currently 3.57%.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction 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 directly owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.15% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on PCG shares. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. The Goldman Sachs Group started coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. upped their price objective on PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Finally, Barclays upped their price objective on PG&E from $20.00 to $21.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $19.11.

About PG&E

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.