Bank of The West decreased its holdings in PG&E Co. (NYSE:PCG) by 30.8% in the fourth quarter, HoldingsChannel reports. The firm owned 9,474 shares of the utilities provider’s stock after selling 4,216 shares during the period. Bank of The West’s holdings in PG&E were worth $425,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Stuart Chaussee & Associates Inc. acquired a new stake in shares of PG&E in the 4th quarter worth $214,000. Blue Sky Asset Management LLC acquired a new stake in PG&E during the 4th quarter worth about $222,000. Bank of Stockton acquired a new stake in PG&E during the 3rd quarter worth about $224,000. CIBC World Markets Inc. acquired a new stake in PG&E during the 4th quarter worth about $256,000. Finally, Partnervest Advisory Services LLC acquired a new stake in PG&E during the 4th quarter worth about $282,000. 80.04% of the stock is owned by hedge funds and other institutional investors.
A number of analysts have commented on PCG shares. Citigroup reaffirmed a “hold” rating and set a $45.00 price target on shares of PG&E in a research report on Monday, January 22nd. Zacks Investment Research raised PG&E from a “hold” rating to a “buy” rating and set a $63.00 price target for the company in a research report on Monday, November 6th. Royal Bank of Canada cut PG&E from an “outperform” rating to a “sector perform” rating in a research report on Thursday, December 21st. JPMorgan Chase & Co. lifted their price target on PG&E from $74.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Finally, Goldman Sachs Group cut PG&E from a “conviction-buy” rating to a “buy” rating and set a $65.00 price target for the company. in a research report on Monday, October 16th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and six have issued a buy rating to the company. PG&E currently has an average rating of “Hold” and a consensus price target of $60.24.
PG&E Co. (PCG) opened at $38.24 on Friday. The firm has a market capitalization of $19,670.00, a PE ratio of 8.79, a price-to-earnings-growth ratio of 2.47 and a beta of 0.03. PG&E Co. has a 52 week low of $38.23 and a 52 week high of $71.57. The company has a debt-to-equity ratio of 0.86, a quick ratio of 0.79 and a current ratio of 0.85.
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PG&E Corporation is a holding company. The Company’s primary operating subsidiary is Pacific Gas and Electric Company (the Utility), which operates in northern and central California. The Utility is engaged in the sale and delivery of electricity and natural gas to customers. The Utility generates electricity and provides electricity transmission and distribution services throughout its service territory in northern and central California to residential, commercial, industrial, and agricultural customers.
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