PG&E Co. (NYSE:PCG) Shares Sold by Banque Cantonale Vaudoise

Banque Cantonale Vaudoise lowered its holdings in shares of PG&E Co. (NYSE:PCGFree Report) by 27.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,860 shares of the utilities provider’s stock after selling 8,840 shares during the period. Banque Cantonale Vaudoise’s holdings in PG&E were worth $385,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. First Trust Direct Indexing L.P. raised its position in PG&E by 13.8% during the third quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock worth $438,000 after acquiring an additional 3,299 shares during the last quarter. Gamco Investors INC. ET AL raised its position in shares of PG&E by 14.4% in the second quarter. Gamco Investors INC. ET AL now owns 34,576 shares of the utilities provider’s stock valued at $597,000 after buying an additional 4,350 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of PG&E by 82.7% in the second quarter. Russell Investments Group Ltd. now owns 1,611,331 shares of the utilities provider’s stock valued at $27,840,000 after buying an additional 729,290 shares during the last quarter. Mackenzie Financial Corp raised its position in shares of PG&E by 78.7% in the third quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock valued at $10,036,000 after buying an additional 288,280 shares during the last quarter. Finally, California Public Employees Retirement System raised its position in shares of PG&E by 13.3% in the third quarter. California Public Employees Retirement System now owns 3,817,990 shares of the utilities provider’s stock valued at $61,584,000 after buying an additional 448,375 shares during the last quarter. Institutional investors and hedge funds own 74.35% of the company’s stock.

PG&E Trading Up 1.0 %

NYSE PCG opened at $16.41 on Thursday. The company’s fifty day simple moving average is $17.37 and its 200-day simple moving average is $17.01. PG&E Co. has a 52 week low of $14.71 and a 52 week high of $18.32. The company has a current ratio of 0.84, a quick ratio of 0.79 and a debt-to-equity ratio of 2.09. The stock has a market cap of $42.85 billion, a P/E ratio of 19.08, a PEG ratio of 4.79 and a beta of 1.38.

PG&E Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 15th. Stockholders of record on Friday, December 29th were given a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.24%. PG&E’s payout ratio is currently 4.65%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. Evercore ISI reissued an “in-line” rating and issued a $16.00 price objective on shares of PG&E in a research report on Monday, October 23rd. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Barclays lowered their target price on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. JPMorgan Chase & Co. lowered their target price on shares of PG&E from $19.00 to $18.00 and set a “neutral” rating for the company in a report on Tuesday, October 17th. Finally, Mizuho boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the company a “buy” rating in a report on Friday, November 17th. Four investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $18.75.

Get Our Latest Stock Report on PCG

PG&E Company Profile

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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.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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