Farther Finance Advisors LLC Cuts Stock Position in PG&E Co. (NYSE:PCG)

Farther Finance Advisors LLC lessened its holdings in PG&E Co. (NYSE:PCG) by 14.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,878 shares of the utilities provider’s stock after selling 6,698 shares during the period. Farther Finance Advisors LLC’s holdings in PG&E were worth $808,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Rothschild Investment LLC purchased a new stake in PG&E during the 2nd quarter worth $30,000. UMB Bank n.a. increased its stake in PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares during the period. Blue Trust Inc. increased its stake in PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new stake in PG&E during the 2nd quarter worth $44,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Trading Down 0.4 %

NYSE PCG opened at $19.95 on Tuesday. PG&E Co. has a one year low of $15.94 and a one year high of $20.93. The company has a 50-day simple moving average of $19.94 and a 200-day simple moving average of $18.66. The company has a debt-to-equity ratio of 1.99, a quick ratio of 0.86 and a current ratio of 0.90. The firm has a market capitalization of $52.17 billion, a PE ratio of 17.05, a price-to-earnings-growth ratio of 1.55 and a beta of 1.03.

PG&E Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date of this dividend was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is presently 3.42%.

Analysts Set New Price Targets

Several research firms recently issued reports on PCG. UBS Group lifted their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Wells Fargo & Company raised their price objective on shares of PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, July 26th. Morgan Stanley raised their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Barclays raised their price objective on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Finally, Jefferies Financial Group initiated coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.80.

Insider Activity

In other news, VP Stephanie N. Williams sold 38,601 shares of PG&E stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the transaction, the vice president now directly owns 19,114 shares of the company’s stock, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.15% of the company’s stock.

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 customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.