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

Edgestream Partners L.P. cut its position in shares of PG&E Co. (NYSE:PCG) by 61.7% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,676 shares of the utilities provider’s stock after selling 303,567 shares during the quarter. Edgestream Partners L.P.’s holdings in PG&E were worth $3,730,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted 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 in the last quarter. Commerce Bank grew its holdings in shares of PG&E by 1.5% during the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock valued at $930,000 after buying an additional 712 shares during the last quarter. Alta Advisers Ltd grew its holdings in shares of PG&E by 19.5% during the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after buying an additional 800 shares during the last quarter. EverSource Wealth Advisors LLC raised 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 last quarter. Finally, Rockefeller Capital Management L.P. lifted its position in PG&E by 3.5% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 27,517 shares of the utilities provider’s stock valued at $544,000 after acquiring an additional 928 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have commented on PCG. Barclays lifted their target price on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Monday, October 21st. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective for the company. UBS Group upped their target price 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. Morgan Stanley lifted their price target on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday, November 27th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.10.

PG&E Price Performance

PCG opened at $21.63 on Monday. The firm’s 50 day simple moving average is $20.44 and its two-hundred day simple moving average is $19.14. The company has a market capitalization of $56.57 billion, a PE ratio of 16.90, a PEG ratio of 1.66 and a beta of 1.03. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.72. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate 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 revenue was up .9% on a year-over-year basis. During the same period in the prior year, the business posted $0.24 EPS. As a group, equities analysts forecast that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The business also recently disclosed 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 of this dividend 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.