Retirement Systems of Alabama Has $8.48 Million Stake in PG&E Co. (NYSE:PCG)

Retirement Systems of Alabama decreased its holdings in PG&E Co. (NYSE:PCG) by 0.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 470,206 shares of the utilities provider’s stock after selling 2,646 shares during the quarter. Retirement Systems of Alabama’s holdings in PG&E were worth $8,478,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Trust Direct Indexing L.P. increased its holdings in PG&E by 13.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock valued at $438,000 after buying an additional 3,299 shares during the period. Artemis Investment Management LLP increased its holdings in PG&E by 6.2% in the 4th quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock valued at $137,009,000 after buying an additional 446,848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in PG&E by 9.0% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 922,856 shares of the utilities provider’s stock valued at $16,639,000 after buying an additional 76,178 shares during the period. LPL Financial LLC increased its holdings 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 buying an additional 162,476 shares during the period. Finally, Mackenzie Financial Corp increased its holdings in PG&E by 78.7% in the 3rd 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 period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of PG&E stock opened at $17.57 on Friday. The stock has a market cap of $37.55 billion, a price-to-earnings ratio of 15.69 and a beta of 1.26. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32. The company’s fifty day moving average is $16.65 and its 200 day moving average is $16.94. 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:PCG) last announced its earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The firm had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The business’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.29 EPS. Sell-side analysts forecast that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio is presently 3.57%.

Wall Street Analyst Weigh In

Several research firms have commented on PCG. The Goldman Sachs Group began coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price on the stock. Barclays increased their price objective on shares of PG&E from $20.00 to $21.00 and gave the company an “overweight” rating in a research note on Friday, April 26th. StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday, April 23rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus target price of $19.11.

Insider Transactions at PG&E

In other news, CEO Patricia K. Poppe sold 59,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the sale, the chief executive officer now directly owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

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.