Retirement Systems of Alabama decreased its stake in shares of PG&E Co. (NYSE:PCG – Free Report) by 7.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 475,883 shares of the utilities provider’s stock after selling 39,911 shares during the quarter. Retirement Systems of Alabama’s holdings in PG&E were worth $7,695,000 at the end of the most recent quarter.
A number of other large investors have also added to or reduced their stakes in PCG. Clear Street Markets LLC purchased a new position in PG&E during the fourth quarter valued at $26,000. Ameritas Advisory Services LLC purchased a new position in shares of PG&E in the first quarter worth $32,000. Caldwell Sutter Capital Inc. purchased a new position in shares of PG&E in the fourth quarter worth $44,000. Whittier Trust Co. raised its stake in shares of PG&E by 1,152.7% in the first quarter. Whittier Trust Co. now owns 3,445 shares of the utilities provider’s stock worth $56,000 after purchasing an additional 3,170 shares during the last quarter. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of PG&E in the fourth quarter worth $57,000. Hedge funds and other institutional investors own 77.09% of the company’s stock.
PG&E Stock Performance
NYSE:PCG opened at $17.96 on Monday. The stock has a 50-day simple moving average of $17.12 and a two-hundred day simple moving average of $16.51. PG&E Co. has a 52-week low of $10.47 and a 52-week high of $18.19. The company has a debt-to-equity ratio of 2.06, a quick ratio of 0.77 and a current ratio of 0.83. The firm has a market capitalization of $44.42 billion, a PE ratio of 20.18, a P/E/G ratio of 5.92 and a beta of 1.12.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on the company. StockNews.com assumed coverage on PG&E in a research note on Thursday, May 18th. They issued a “hold” rating for the company. LADENBURG THALM/SH SH assumed coverage on PG&E in a research note on Monday, April 3rd. They issued a “buy” rating and a $20.50 price target for the company. Guggenheim decreased their price target on PG&E from $22.00 to $21.00 in a research note on Friday, July 7th. Morgan Stanley restated an “equal weight” rating and issued a $15.00 price target on shares of PG&E in a research note on Friday. Finally, Royal Bank of Canada upped their price objective on PG&E from $20.00 to $21.00 in a research report on Tuesday, May 30th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $18.83.
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.
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