Edgestream Partners L.P. Sells 303,567 Shares of PG&E Co. (NYSE:PCG)

Edgestream Partners L.P. cut its holdings in shares of PG&E Co. (NYSE:PCG) by 61.7% during the third quarter, Holdings Channel.com reports. The fund owned 188,676 shares of the utilities provider’s stock after selling 303,567 shares during the period. Edgestream Partners L.P.’s holdings in PG&E were worth $3,730,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Janus Henderson Group PLC lifted its holdings in PG&E by 8.6% in 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 in the last quarter. Cetera Advisors LLC purchased a new position in shares of PG&E in the first quarter worth $503,000. Transcend Capital Advisors LLC boosted its position in shares of PG&E by 6.9% during the second quarter. Transcend Capital Advisors LLC now owns 17,188 shares of the utilities provider’s stock worth $300,000 after acquiring an additional 1,116 shares during the last quarter. GAMMA Investing LLC grew its stake in PG&E by 101.6% during the second quarter. GAMMA Investing LLC now owns 14,197 shares of the utilities provider’s stock valued at $248,000 after acquiring an additional 7,154 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its holdings in PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after acquiring an additional 1,179 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently commented on PCG shares. UBS Group increased their price target on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. 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 upped their price target 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. Barclays lifted their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Finally, Jefferies Financial Group started coverage on shares of PG&E in a research report on Monday, October 14th. They set 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 assigned a buy rating to the company. Based on data from MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and a consensus target price of $23.10.

PG&E Stock Performance

Shares of PCG opened at $21.63 on Monday. The firm has a market capitalization of $56.57 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.66 and a beta of 1.03. 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 Co. has a 1-year low of $15.94 and a 1-year high of $21.72. The company has a 50-day moving average of $20.44 and a 200 day moving average of $19.14.

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 analysts’ consensus estimates of $0.32 by $0.05. The firm had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. PG&E’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.24 earnings per share. On average, research analysts expect that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

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