Ceredex Value Advisors LLC Cuts Stake in PG&E Co. (NYSE:PCG)

Ceredex Value Advisors LLC lessened its stake in PG&E Co. (NYSE:PCG) by 6.2% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 1,763,000 shares of the utilities provider’s stock after selling 115,700 shares during the quarter. Ceredex Value Advisors LLC’s holdings in PG&E were worth $34,872,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its holdings in shares of PG&E by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after purchasing an additional 5,635,693 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in PG&E by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock valued at $2,113,882,000 after buying an additional 2,176,931 shares during the last quarter. Capital International Investors grew its holdings in PG&E by 4.4% during the 1st quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock valued at $2,030,641,000 after buying an additional 5,066,183 shares in the last quarter. King Street Capital Management L.P. bought a new stake in PG&E in the 2nd quarter worth approximately $1,964,250,000. Finally, Massachusetts Financial Services Co. MA raised its holdings in shares of PG&E by 17.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock worth $1,779,352,000 after acquiring an additional 14,998,472 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

PG&E Stock Down 0.9 %

Shares of PCG opened at $20.04 on Friday. The firm has a market capitalization of $52.41 billion, a P/E ratio of 17.13, a P/E/G ratio of 1.54 and a beta of 1.01. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $20.93. The firm has a fifty day moving average price of $19.92 and a 200-day moving average price of $18.60. The company has a current ratio of 0.90, a quick ratio of 0.86 and a debt-to-equity ratio of 1.99.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.42%.

Insider Activity

In related news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the transaction, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.15% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. UBS Group boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Morgan Stanley upped their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Barclays lifted their price target on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America assumed coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective on the stock. Finally, Wells Fargo & Company lifted their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

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.