Dorsey Wright & Associates Has $2.70 Million Position in PG&E Co. (NYSE:PCG)

Dorsey Wright & Associates decreased its holdings in shares of PG&E Co. (NYSE:PCGFree Report) by 2.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 149,886 shares of the utilities provider’s stock after selling 3,706 shares during the quarter. Dorsey Wright & Associates’ holdings in PG&E were worth $2,702,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Artemis Investment Management LLP lifted its stake in shares of PG&E by 6.2% during the 4th quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock worth $137,009,000 after buying an additional 446,848 shares during the last quarter. Wells Fargo & Company MN grew its position in shares of PG&E by 19.1% in the fourth quarter. Wells Fargo & Company MN now owns 1,136,587 shares of the utilities provider’s stock valued at $20,493,000 after purchasing an additional 182,279 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PG&E by 9.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock worth $16,639,000 after purchasing an additional 76,178 shares during the period. Dai ichi Life Insurance Company Ltd lifted its holdings in PG&E by 379.0% during the 4th quarter. Dai ichi Life Insurance Company Ltd now owns 76,494 shares of the utilities provider’s stock worth $1,379,000 after purchasing an additional 60,525 shares during the last quarter. Finally, LPL Financial LLC boosted its stake in PG&E by 8.9% in the 3rd quarter. LPL Financial LLC now owns 1,987,389 shares of the utilities provider’s stock valued at $32,057,000 after purchasing an additional 162,476 shares during the period. 78.56% of the stock is owned by institutional investors.

Insider Transactions at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the completion of the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at approximately $25,889,471.16. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.15% of the stock is owned by corporate insiders.

PG&E Stock Down 1.6 %

NYSE PCG traded down $0.30 on Monday, reaching $18.24. The company had a trading volume of 5,179,148 shares, compared to its average volume of 14,874,724. The stock has a market capitalization of $52.52 billion, a P/E ratio of 16.55 and a beta of 1.19. The company’s fifty day moving average is $17.38 and its 200 day moving average is $17.20. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.95. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08.

PG&E (NYSE:PCGGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.02. The business had revenue of $5.86 billion during the quarter, compared to analyst estimates of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. PG&E’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.29 EPS. Sell-side analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s payout ratio is 3.57%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PCG shares. Morgan Stanley raised their target price on shares of PG&E from $16.00 to $18.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Mizuho boosted their price target on PG&E from $21.00 to $23.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Barclays upped their target price on PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Friday, April 26th. JPMorgan Chase & Co. upped their target price on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group assumed coverage on PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target on the stock. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $19.75.

View Our Latest Report on PG&E

About PG&E

(Free Report)

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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