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

Chico Wealth RIA decreased its position in shares of PG&E Co. (NYSE:PCG) by 6.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 28,858 shares of the utilities provider’s stock after selling 2,111 shares during the period. PG&E makes up 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 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Jupiter Asset Management Ltd. bought a new position in PG&E during the 1st quarter worth $2,153,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of PG&E by 19.8% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 2,486,117 shares of the utilities provider’s stock worth $41,667,000 after purchasing an additional 410,409 shares during the period. Bayesian Capital Management LP bought a new position in shares of PG&E in the first quarter worth $2,377,000. Scientech Research LLC bought a new position in shares of PG&E in the second quarter worth $1,122,000. Finally, Allspring Global Investments Holdings LLC increased its position in shares of PG&E by 808.5% in the second quarter. Allspring Global Investments Holdings LLC now owns 1,243,020 shares of the utilities provider’s stock worth $21,703,000 after purchasing an additional 1,106,200 shares during the period. Institutional investors own 78.56% of the company’s stock.

Insider Transactions at PG&E

In other news, VP Stephanie N. Williams sold 38,601 shares of the stock in a transaction on Thursday, August 15th. The shares were 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 directly owns 19,114 shares in the company, valued at $350,168.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

PG&E Stock Up 0.5 %

NYSE:PCG opened at $20.68 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. PG&E Co. has a one year low of $15.59 and a one year high of $20.81. The firm’s 50 day simple moving average is $19.73 and its 200 day simple moving average is $18.45. The company has a market cap of $54.08 billion, a PE ratio of 17.68, a P/E/G ratio of 1.58 and a beta of 1.01.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, July 25th. The utilities provider reported $0.31 earnings per share 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 analysts’ expectations of $5.86 billion. PG&E had a return on equity of 11.76% and a net margin of 10.22%. The business’s quarterly revenue was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. On average, research analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

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 issued a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s payout ratio is 3.42%.

Analyst Upgrades and Downgrades

PCG has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their price target on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Barclays raised 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. Morgan Stanley lifted their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, September 25th. Finally, Jefferies Financial Group assumed coverage on shares of PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average price target of $22.80.

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.