PG&E Co. (NYSE:PCG) Shares Sold by Covestor Ltd

Covestor Ltd lessened its holdings in PG&E Co. (NYSE:PCG) by 8.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,241 shares of the utilities provider’s stock after selling 607 shares during the period. Covestor Ltd’s holdings in PG&E were worth $123,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PCG. Axxcess Wealth Management LLC raised its position in PG&E by 3.5% in the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock valued at $305,000 after purchasing an additional 614 shares during the period. Ballentine Partners LLC raised its holdings in shares of PG&E by 3.1% during the 2nd quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock valued at $392,000 after buying an additional 666 shares during the period. Alta Advisers Ltd lifted its position in PG&E by 19.5% during the 2nd quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock worth $86,000 after acquiring an additional 800 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in PG&E by 14.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after acquiring an additional 863 shares during the period. Finally, Meeder Advisory Services Inc. grew its position in PG&E by 8.0% in the first quarter. Meeder Advisory Services Inc. now owns 12,363 shares of the utilities provider’s stock valued at $207,000 after acquiring an additional 917 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

PCG opened at $21.09 on Tuesday. The company has a quick ratio of 0.86, a current ratio of 0.90 and a debt-to-equity ratio of 1.99. The company’s 50-day moving average price is $20.03 and its 200 day moving average price is $18.76. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.15. The firm has a market cap of $55.15 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.58 and a beta of 1.03.

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, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.65% and a net margin of 11.11%. The business’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. As a group, sell-side analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently declared 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 annualized dividend and a dividend yield of 0.19%. PG&E’s dividend payout ratio is currently 3.13%.

Insider Buying and Selling

In other PG&E news, VP Stephanie N. Williams sold 38,601 shares of the company’s 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 owns 19,114 shares in the company, valued at approximately $350,168.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.15% of the company’s stock.

Analysts Set New Price Targets

PCG has been the topic of a number of recent research reports. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. UBS Group raised their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group started coverage on PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Barclays raised their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. Finally, Wells Fargo & Company increased their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $22.80.

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.