State Treasurer State of Michigan increased its stake in PG&E Co. (NYSE:PCG) by 0.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 154,129 shares of the utilities provider’s stock after acquiring an additional 1,200 shares during the quarter. State Treasurer State of Michigan’s holdings in PG&E were worth $7,091,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. NEXT Financial Group Inc purchased a new stake in shares of PG&E during the third quarter worth $104,000. CenterStar Asset Management LLC grew its holdings in shares of PG&E by 201.2% during the second quarter. CenterStar Asset Management LLC now owns 2,980 shares of the utilities provider’s stock worth $127,000 after buying an additional 5,924 shares in the last quarter. Gradient Investments LLC purchased a new stake in shares of PG&E during the second quarter worth $146,000. Cerebellum GP LLC purchased a new stake in shares of PG&E during the second quarter worth $176,000. Finally, Alpine Woods Capital Investors LLC purchased a new stake in shares of PG&E during the second quarter worth $204,000. 81.39% of the stock is owned by institutional investors and hedge funds.
Shares of PCG stock opened at $46.78 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.60 and a current ratio of 0.65. The stock has a market cap of $23.94 billion, a PE ratio of 12.12, a PEG ratio of 3.48 and a beta of -0.07. PG&E Co. has a twelve month low of $37.30 and a twelve month high of $58.38.
In other news, COO Nickolas Stavropoulos sold 1,161 shares of the business’s stock in a transaction dated Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total transaction of $52,001.19. Following the transaction, the chief operating officer now owns 78,223 shares of the company’s stock, valued at approximately $3,503,608.17. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.
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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