Groupama Asset Managment Sells 11,350 Shares of PG&E Co. (NYSE:PCG)

Groupama Asset Managment lowered its holdings in PG&E Co. (NYSE:PCG) by 5.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,174 shares of the utilities provider’s stock after selling 11,350 shares during the period. Groupama Asset Managment’s holdings in PG&E were worth $3,720,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC lifted its stake in shares of PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares during the last quarter. King Street Capital Management L.P. acquired a new stake in shares of PG&E during the 2nd quarter worth about $1,964,250,000. State Street Corp increased its position in PG&E by 5.0% during the third quarter. State Street Corp now owns 108,953,808 shares of the utilities provider’s stock worth $2,155,093,000 after acquiring an additional 5,191,463 shares during the period. Massachusetts Financial Services Co. MA increased its position in PG&E by 2.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after acquiring an additional 2,936,763 shares during the period. Finally, Wellington Management Group LLP increased its position in PG&E by 6.4% during the third quarter. Wellington Management Group LLP now owns 30,255,039 shares of the utilities provider’s stock worth $598,142,000 after acquiring an additional 1,822,835 shares during the period. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on PCG shares. Barclays raised their price target on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Mizuho raised their target price on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Wednesday, November 27th. Morgan Stanley raised their target price on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. 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 report on Tuesday, September 3rd. Finally, Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.10.

Insider Buying and Selling

In related news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the sale, the chief executive officer now directly owns 1,460,222 shares in the company, valued at $30,168,186.52. This trade represents a 3.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.15% of the stock is owned by corporate insiders.

PG&E Trading Down 0.3 %

Shares of PG&E stock opened at $20.33 on Monday. The firm has a market capitalization of $53.17 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 1.55 and a beta of 1.01. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The firm’s 50 day moving average is $20.51 and its 200 day moving average is $19.21. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.72.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the firm posted $0.24 EPS. The firm’s revenue was up .9% on a year-over-year basis. Equities research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Tuesday, December 31st will be given a dividend of $0.025 per share. The ex-dividend date is Tuesday, December 31st. This is an increase from PG&E’s previous quarterly dividend of $0.01. This represents a $0.10 annualized dividend and a yield of 0.49%. PG&E’s dividend payout ratio (DPR) is currently 3.13%.

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.