PG&E Co. (NYSE:PCG) Shares Sold by Redwood Investment Management LLC

Redwood Investment Management LLC cut its stake in PG&E Co. (NYSE:PCG) by 18.2% in the third quarter, HoldingsChannel reports. The firm owned 25,146 shares of the utilities provider’s stock after selling 5,590 shares during the quarter. Redwood Investment Management LLC’s holdings in PG&E were worth $498,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. IHT Wealth Management LLC acquired a new stake in PG&E in the 3rd quarter valued at about $262,000. Integrated Wealth Concepts LLC raised its holdings in PG&E by 55.1% in the third quarter. Integrated Wealth Concepts LLC now owns 31,990 shares of the utilities provider’s stock valued at $632,000 after acquiring an additional 11,366 shares in the last quarter. Investment Management Corp of Ontario lifted its stake in PG&E by 49.4% in the third quarter. Investment Management Corp of Ontario now owns 67,456 shares of the utilities provider’s stock worth $1,334,000 after acquiring an additional 22,300 shares during the last quarter. Janus Henderson Group PLC grew its holdings in PG&E by 11.9% during the 3rd quarter. Janus Henderson Group PLC now owns 336,247 shares of the utilities provider’s stock worth $6,646,000 after acquiring an additional 35,700 shares in the last quarter. Finally, Atom Investors LP increased its position in shares of PG&E by 13.1% in the 3rd quarter. Atom Investors LP now owns 61,292 shares of the utilities provider’s stock valued at $1,212,000 after purchasing an additional 7,096 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the stock. Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 price objective on the stock. Bank of America initiated coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Morgan Stanley increased their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, UBS Group boosted their price objective 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. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $23.10.

PG&E Trading Down 0.3 %

NYSE PCG opened at $20.33 on Friday. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The firm has a market cap of $53.17 billion, a PE ratio of 15.88, a P/E/G ratio of 1.60 and a beta of 1.01. The firm’s fifty day moving average is $20.51 and its two-hundred day moving average is $19.20. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. The company had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period last year, the firm earned $0.24 EPS. Analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.025 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $0.10 dividend on an annualized basis and a yield of 0.49%. This is an increase from PG&E’s previous quarterly dividend of $0.01. PG&E’s dividend payout ratio is presently 7.81%.

Insider Transactions at PG&E

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

PG&E 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.