PG&E Co. (NYSE:PCG) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lowered its holdings in shares of PG&E Co. (NYSE:PCG) by 33.9% in the third quarter, Holdings Channel reports. The firm owned 82,015 shares of the utilities provider’s stock after selling 42,043 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in PG&E were worth $1,621,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in shares of PG&E by 2.0% in the first quarter. Vanguard Group Inc. now owns 282,332,215 shares of the utilities provider’s stock valued at $4,731,888,000 after buying an additional 5,635,693 shares during the last quarter. JPMorgan Chase & Co. grew its holdings in shares of PG&E by 1.8% during the first quarter. JPMorgan Chase & Co. now owns 126,126,581 shares of the utilities provider’s stock worth $2,113,882,000 after buying an additional 2,176,931 shares during the last quarter. Capital International Investors increased its position in PG&E by 4.4% in 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 acquiring an additional 5,066,183 shares during the period. King Street Capital Management L.P. purchased a new stake in PG&E during the 2nd quarter valued at approximately $1,964,250,000. Finally, Massachusetts Financial Services Co. MA lifted its position in 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 during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. Barclays boosted their price objective on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Bank of America initiated coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Morgan Stanley lifted their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, UBS Group increased their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Two equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Stock Down 1.4 %

PG&E stock opened at $20.99 on Friday. The firm has a market capitalization of $54.89 billion, a price-to-earnings ratio of 16.40, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03. 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 Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.51. The stock’s fifty day moving average is $20.10 and its two-hundred day moving average is $18.83.

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

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

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.