Chico Wealth RIA Sells 2,111 Shares of PG&E Co. (NYSE:PCG)

Chico Wealth RIA cut its stake in PG&E Co. (NYSE:PCG) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 28,858 shares of the utilities provider’s stock after selling 2,111 shares during the quarter. PG&E accounts for 0.5% of Chico Wealth RIA’s holdings, making the stock its 17th biggest position. Chico Wealth RIA’s holdings in PG&E were worth $571,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PCG. Brookstone Capital Management bought a new stake in PG&E during the 1st quarter worth approximately $256,000. Wealth Enhancement Advisory Services LLC increased its stake in PG&E by 4.6% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 34,506 shares of the utilities provider’s stock worth $578,000 after purchasing an additional 1,507 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in PG&E by 8.3% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 136,820 shares of the utilities provider’s stock worth $2,293,000 after purchasing an additional 10,499 shares in the last quarter. State of Alaska Department of Revenue increased its stake in PG&E by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 231,500 shares of the utilities provider’s stock worth $3,879,000 after purchasing an additional 1,115 shares in the last quarter. Finally, Norden Group LLC increased its stake in PG&E by 2,840.9% during the 1st quarter. Norden Group LLC now owns 682,380 shares of the utilities provider’s stock worth $11,437,000 after purchasing an additional 659,177 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Insider Buying and Selling at PG&E

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total transaction of $707,170.32. Following the completion of the sale, the vice president now owns 19,114 shares of the company’s stock, valued at $350,168.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. UBS Group increased their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group began coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Morgan Stanley upped their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Barclays upped 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. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.80.

PG&E Trading Up 0.5 %

NYSE PCG opened at $20.68 on Friday. The company has a market cap of $54.08 billion, a PE ratio of 17.68, a PEG ratio of 1.58 and a beta of 1.01. 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 Co. has a 12 month low of $15.59 and a 12 month high of $20.81. The stock has a 50 day moving average of $19.73 and a 200-day moving average of $18.45.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 EPS for the quarter, beating the consensus estimate of $0.30 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to the consensus estimate of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.23 EPS. On average, equities research analysts anticipate that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s payout ratio is presently 3.42%.

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.