Forsta AP Fonden reduces stake in PG&E Co. (NYSE:PCG)

Forsta AP Fonden reduced its holdings in PG&E Co. (NYSE:PCG – Free Report) by 10.6% during the second quarter, Holdings Channel.com reports. The firm owned 336,500 shares of the utilities provider’s stock after selling 39,700 shares during the period. Forsta AP Fonden’s holdings in PG&E were worth $5,875,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the business. Rothschild Investment LLC purchased a new stake in PG&E during the 2nd quarter valued at $30,000. UMB Bank na boosted its position in PG&E by 84.7% during the 2nd quarter. UMB Bank na now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the period. Vima LLC acquired a new stake in PG&E during the fourth quarter valued at $41,000. Blue Trust Inc. boosted its position in PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock valued at $40,000 after buying an additional 1,027 shares during the period. Finally, Tidemark LLC purchased a new stake in PG&E during the fourth quarter valued at $54,000. Hedge funds and other institutional investors own 78.56% of the company’s shares.

The Wall Street analyst weighs in

PCG has been the subject of several analyst reports. Wells Fargo & Company upped their target price on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. UBS Group boosted their price objective 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. Bank of America assumed coverage on shares of PG&E in a report on Thursday. They issued a “buy” rating and a $24.00 price objective for the company. Barclays boosted their price objective on shares of PG&E from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Tuesday, July 30th. Finally, JPMorgan Chase & Co. upgraded shares of PG&E from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Three investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E has a consensus rating of “Moderate Buy” and a consensus price target of $21.45.

Get the latest stock report on PCG

PG&E stock down 0.5%

Shares of PG&E stock opened at $19.77 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90, and a quick ratio of 0.86. The company has a 50-day moving average of $18.61 and a 200-day moving average of $17.76. The firm has a market cap of $51.70 billion, a price-to-earnings ratio of 17.65 and a beta of 1.01. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $20.65.

PG&E (NYSE:PCG – Get Your Free Report ) last posted its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.01. The company had revenue of $5.99 billion during the quarter, compared to analyst estimates of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. PG&E’s quarterly revenue was up 13.2% compared to the same quarter last year. During the same period last year, the business earned $0.23 EPS. As a group, sell-side analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

Insider buying and selling

In related news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. The sale was disclosed in a filing with the SEC, which can be accessed via this hyperlink. 0.15% of shares are owned by company insiders.

PG&E Profile

(Free Report)

PG&E Corporation, through its subsidiary Pacific Gas and Electric Company, engages in the sale and delivery of electric power and natural gas to customers in northern and central California, United States. It produces electricity using nuclear, hydroelectric, fossil fuel, fuel cell and photovoltaic sources.

See Also

Want to see what other hedge funds own PCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for PG&E Co. (NYSE:PCG – Free Report).

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