Texas Permanent School Fund Corp Sells 88,438 Shares of PG&E Co. (NYSE:PCG)

Texas Permanent School Fund Corp lessened its holdings in shares of PG&E Co. (NYSE:PCG) by 20.1% during the 2nd quarter, Holdings Channel.com reports. The firm owned 352,597 shares of the utilities provider’s stock after selling 88,438 shares during the period. Texas Permanent School Fund Corp’s holdings in PG&E were worth $6,156,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in PCG. Rothschild Investment LLC acquired a new position in PG&E during the 2nd quarter worth about $30,000. UMB Bank n.a. lifted its position in shares of PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. grew its stake in shares of 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 purchasing an additional 1,027 shares during the last quarter. Vima LLC bought a new stake in shares of PG&E during the fourth quarter valued at approximately $41,000. Finally, Tidemark LLC acquired a new stake in shares of PG&E in the fourth quarter valued at approximately $54,000. 78.56% of the stock is currently owned by institutional investors and hedge funds.

PG&E Price Performance

PG&E stock opened at $19.65 on Thursday. The firm has a market capitalization of $56.56 billion, a P/E ratio of 17.54 and a beta of 1.01. The business has a 50-day moving average of $18.46 and a 200-day moving average of $17.70. 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 1 year low of $14.71 and a 1 year high of $20.65.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, July 25th. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.30 by $0.01. The firm had revenue of $5.99 billion during the quarter, compared to analysts’ expectations of $5.86 billion. PG&E had a net margin of 10.22% and a return on equity of 11.76%. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.23 earnings per share. On average, equities analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

Wall Street Analyst Weigh In

PCG has been the topic of several research reports. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and upped their price objective for the stock from $19.00 to $22.00 in a report on Monday, June 10th. Morgan Stanley upped their price target on PG&E from $18.00 to $19.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their price objective on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Mizuho upped their target price on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Finally, UBS Group raised their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $21.20.

Insider Activity

In related 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 sale, the vice president now owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.15% of the stock is owned by company insiders.

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.