American Century Companies Inc. lowered its stake in shares of PG&E Co. (NYSE:PCG) by 18.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,000,325 shares of the utilities provider’s stock after selling 233,840 shares during the quarter. American Century Companies Inc.’s holdings in PG&E were worth $46,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCG. NEXT Financial Group Inc bought a new position in shares of PG&E during the 3rd quarter valued at approximately $104,000. FNY Investment Advisers LLC increased its position in shares of PG&E by 35,614.3% during the 3rd quarter. FNY Investment Advisers LLC now owns 2,500 shares of the utilities provider’s stock valued at $115,000 after purchasing an additional 2,493 shares during the last quarter. Gradient Investments LLC bought a new position in shares of PG&E during the 2nd quarter valued at approximately $146,000. Stratos Wealth Partners LTD. bought a new position in shares of PG&E during the 3rd quarter valued at approximately $169,000. Finally, Intact Investment Management Inc. bought a new position in PG&E in the 3rd quarter valued at $202,000. 80.90% of the stock is currently owned by hedge funds and other institutional investors.

In other PG&E news, COO Nickolas Stavropoulos sold 1,161 shares of the company’s stock in a transaction on Wednesday, August 22nd. The stock was sold at an average price of $44.79, for a total value of $52,001.19. Following the completion of the sale, the chief operating officer now directly owns 78,223 shares in the company, valued at approximately $3,503,608.17. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.14% of the stock is currently owned by corporate insiders.

Several brokerages have commented on PCG. Goldman Sachs Group set a $49.00 price objective on PG&E and gave the company a “hold” rating in a research report on Friday, September 14th. Argus raised PG&E from a “hold” rating to a “buy” rating in a research report on Thursday, September 6th. Bank of America reaffirmed a “hold” rating and issued a $48.00 price objective on shares of PG&E in a research report on Wednesday, August 1st. Morgan Stanley raised PG&E to an “overweight” rating in a research report on Wednesday, September 12th. Finally, ValuEngine raised PG&E from a “strong sell” rating to a “sell” rating in a research report on Friday, October 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $52.05.

Shares of PG&E stock opened at $32.72 on Wednesday. The firm has a market capitalization of $20.71 billion, a price-to-earnings ratio of 8.89, a price-to-earnings-growth ratio of 2.98 and a beta of -0.09. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.62 and a current ratio of 0.67. PG&E Co. has a 52 week low of $24.95 and a 52 week high of $56.90.

PG&E (NYSE:PCG) last issued its earnings results on Monday, November 5th. The utilities provider reported $1.13 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.14 by ($0.01). PG&E had a return on equity of 10.17% and a net margin of 0.89%. The firm had revenue of $4.38 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the company posted $1.12 earnings per share. PG&E’s quarterly revenue was down 3.0% compared to the same quarter last year. On average, equities analysts expect that PG&E Co. will post 3.82 EPS for the current fiscal year.

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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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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