Bridgewater Associates LP Sells 67,323 Shares of PG&E Co. (NYSE:PCG)

Bridgewater Associates LP lowered its stake in shares of PG&E Co. (NYSE:PCG) by 4.7% during the third quarter, HoldingsChannel reports. The fund owned 1,372,691 shares of the utilities provider’s stock after selling 67,323 shares during the quarter. Bridgewater Associates LP’s holdings in PG&E were worth $27,138,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of PG&E by 8.6% during the 1st quarter. Janus Henderson Group PLC now owns 271,703 shares of the utilities provider’s stock worth $4,550,000 after purchasing an additional 21,483 shares during the period. Tidal Investments LLC increased its stake in PG&E by 8.9% during the first quarter. Tidal Investments LLC now owns 94,222 shares of the utilities provider’s stock valued at $1,579,000 after acquiring an additional 7,703 shares during the period. Beck Bode LLC acquired a new position in PG&E in the 1st quarter valued at approximately $9,861,000. Cetera Advisors LLC bought a new stake in shares of PG&E in the 1st quarter worth approximately $503,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in shares of PG&E by 78.7% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 546,053 shares of the utilities provider’s stock worth $9,152,000 after purchasing an additional 240,479 shares in the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts recently commented on PCG shares. Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price for the company. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. UBS Group lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Mizuho increased their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Two analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, PG&E currently has an average rating of “Moderate Buy” and an average target price of $23.10.

PG&E Stock Up 0.6 %

Shares of PCG opened at $21.63 on Thursday. The company has a market capitalization of $56.57 billion, a P/E ratio of 16.90, a PEG ratio of 1.63 and a beta of 1.03. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The business’s 50 day simple moving average is $20.37 and its 200-day simple moving average is $19.09. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share 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 firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter last year, the company posted $0.24 EPS. The company’s quarterly revenue was up .9% compared to the same quarter last year. As a group, sell-side analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.18%. PG&E’s payout ratio is currently 3.13%.

About PG&E

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.