PG&E Co. (NYSE:PCG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its position in shares of PG&E Co. (NYSE:PCG) by 64.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 194,970 shares of the utilities provider’s stock after selling 358,007 shares during the period. QRG Capital Management Inc.’s holdings in PG&E were worth $3,855,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. National Pension Service increased its holdings in PG&E by 3.1% during the 3rd quarter. National Pension Service now owns 2,893,429 shares of the utilities provider’s stock worth $57,203,000 after purchasing an additional 85,983 shares during the last quarter. Van ECK Associates Corp grew its position in shares of PG&E by 31.4% during the third quarter. Van ECK Associates Corp now owns 1,822,956 shares of the utilities provider’s stock worth $37,516,000 after buying an additional 435,170 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of PG&E by 17.6% in the third quarter. Janney Montgomery Scott LLC now owns 80,874 shares of the utilities provider’s stock worth $1,599,000 after buying an additional 12,092 shares during the last quarter. Gladstone Institutional Advisory LLC raised its holdings in PG&E by 16.5% in the third quarter. Gladstone Institutional Advisory LLC now owns 22,773 shares of the utilities provider’s stock valued at $450,000 after acquiring an additional 3,230 shares in the last quarter. Finally, New York State Common Retirement Fund boosted its stake in PG&E by 1.4% during the 3rd quarter. New York State Common Retirement Fund now owns 1,934,281 shares of the utilities provider’s stock valued at $38,241,000 after acquiring an additional 25,785 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Insider Activity

In related news, VP Stephanie N. Williams sold 38,601 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $18.32, for a total value of $707,170.32. Following the sale, the vice president now directly owns 19,114 shares in the company, valued at $350,168.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Up 0.1 %

PG&E stock opened at $20.26 on Thursday. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. PG&E Co. has a one year low of $15.94 and a one year high of $20.93. The company has a 50-day simple moving average of $19.99 and a 200-day simple moving average of $18.70. The firm has a market capitalization of $52.97 billion, a P/E ratio of 17.31, a P/E/G ratio of 1.53 and a beta of 1.03.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. PG&E’s payout ratio is currently 3.42%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PCG. Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, September 25th. 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 report on Friday, July 26th. UBS Group lifted their target price on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America started coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Finally, Barclays lifted their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, PG&E has an average rating of “Moderate Buy” and a consensus target price of $22.80.

About PG&E

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.