PG&E Co. (NYSE:PCG) Shares Sold by Quest Partners LLC

Quest Partners LLC lessened its stake in shares of PG&E Co. (NYSE:PCG) by 83.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 15,932 shares of the utilities provider’s stock after selling 79,887 shares during the period. Quest Partners LLC’s holdings in PG&E were worth $315,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of the stock. Rothschild Investment LLC purchased a new stake in PG&E during the 2nd quarter valued at about $30,000. UMB Bank n.a. grew 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 valued at $38,000 after acquiring an additional 1,011 shares in the last quarter. Blue Trust Inc. grew 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 valued at $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd purchased a new stake in PG&E during the 2nd quarter valued at about $44,000. Finally, Massmutual Trust Co. FSB ADV grew 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 valued at $63,000 after acquiring an additional 1,179 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Down 0.9 %

PG&E stock opened at $21.19 on Tuesday. PG&E Co. has a fifty-two week low of $15.94 and a fifty-two week high of $21.51. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The firm has a 50 day moving average price of $20.27 and a 200 day moving average price of $19.02. The company has a market capitalization of $55.40 billion, a PE ratio of 16.70, a price-to-earnings-growth ratio of 1.64 and a beta of 1.03.

PG&E (NYSE:PCG) last posted its earnings results 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 the consensus estimate of $6.58 billion. During the same quarter last year, the firm earned $0.24 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E’s dividend payout ratio (DPR) is presently 3.13%.

Analyst Ratings Changes

Several brokerages recently issued reports on PCG. Morgan Stanley upped 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 upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Bank of America began coverage on shares of PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Jefferies Financial Group began coverage on shares of PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Finally, Barclays raised their price target 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. 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, PG&E currently has an average 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.