California State Teachers Retirement System Sells 24,297 Shares of PG&E Co. (NYSE:PCG)

California State Teachers Retirement System cut its holdings in PG&E Co. (NYSE:PCG – Get Rating) by 0.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 2,537,101 shares of the utilities provider’s stock after selling 24,297 shares during the period. California State Teachers Retirement System’s holdings in PG&E were worth $31,714,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in PG&E by 34.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 8,787,417 shares of the utilities provider’s stock worth $87,698,000 after buying an additional 2,252,715 shares during the period. FirstPurpose Wealth LLC boosted its holdings in PG&E by 30.6% in the 3rd quarter. FirstPurpose Wealth LLC now owns 15,817 shares of the utilities provider’s stock worth $198,000 after buying an additional 3,707 shares during the period. Illinois Municipal Retirement Fund bought a new position in PG&E in the 3rd quarter worth approximately $585,000. Gabelli Funds LLC boosted its holdings in PG&E by 2.7% in the 3rd quarter. Gabelli Funds LLC now owns 873,500 shares of the utilities provider’s stock worth $10,919,000 after buying an additional 23,000 shares during the period. Finally, Samlyn Capital LLC purchased a new stake in PG&E in the 3rd quarter worth approximately $57,532,000. 83.63% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on PCG. Jefferies Financial Group reiterated a “neutral” rating and issued a $17.00 target price on shares of PG&E in a research note on Tuesday, January 3rd. Morgan Stanley lowered their target price on shares of PG&E from $15.00 to $14.00 and set an “equal weight” rating on the stock in a research note on Wednesday, February 22nd. StockNews.com began coverage on shares of PG&E in a research note on Thursday. They issued a “hold” rating on the stock. Wells Fargo & Company increased their target price on shares of PG&E to $20.00 in a research note on Wednesday, December 14th. Finally, Credit Suisse Group increased their target price on shares of PG&E from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, PG&E presently has a consensus rating of “Hold” and an average price target of $17.78.

Insider Buying and Selling

In related news, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of PG&E stock in a transaction on Monday, January 9th. The shares were sold at an average price of $15.26, for a total value of $915,600,000.00. Following the transaction, the insider now owns 187,743,590 shares in the company, valued at approximately $2,864,967,183.40. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other PG&E news, CEO Patricia K. Poppe sold 66,700 shares of the firm’s stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $15.87, for a total value of $1,058,529.00. Following the sale, the chief executive officer now owns 1,269,325 shares of the company’s stock, valued at approximately $20,144,187.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Pg&E Fire Victim Trust sold 60,000,000 shares of the firm’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $15.26, for a total transaction of $915,600,000.00. Following the completion of the sale, the insider now directly owns 187,743,590 shares in the company, valued at approximately $2,864,967,183.40. The disclosure for this sale can be found here. 0.06% of the stock is owned by corporate insiders.

PG&E Price Performance

Shares of NYSE:PCG opened at $16.10 on Friday. The stock has a market cap of $39.71 billion, a PE ratio of 19.17, a PEG ratio of 5.21 and a beta of 1.10. The company’s fifty day moving average is $15.80 and its 200 day moving average is $15.02. PG&E Co. has a 52 week low of $9.64 and a 52 week high of $16.83. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 2.07.

PG&E (NYSE:PCG – Get Rating) last issued its earnings results on Thursday, February 23rd. The utilities provider reported $0.26 EPS for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). The business had revenue of $5.37 billion during the quarter, compared to analysts’ expectations of $5.70 billion. PG&E had a return on equity of 10.55% and a net margin of 8.37%. During the same quarter in the previous year, the business earned $0.28 EPS. Research analysts anticipate that PG&E Co. will post 1.21 earnings per share for the current year.

PG&E Company Profile

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PG&E Corp. is 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.