Atria Investments Inc Sells 17,719 Shares of PG&E Co. (NYSE:PCG)

Atria Investments Inc reduced its stake in PG&E Co. (NYSE:PCG) by 30.4% during the 3rd quarter, HoldingsChannel reports. The fund owned 40,582 shares of the utilities provider’s stock after selling 17,719 shares during the quarter. Atria Investments Inc’s holdings in PG&E were worth $802,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Capital International Investors lifted its holdings in shares of PG&E by 4.4% in the first quarter. Capital International Investors now owns 121,159,974 shares of the utilities provider’s stock valued at $2,030,641,000 after purchasing an additional 5,066,183 shares in the last quarter. King Street Capital Management L.P. acquired a new position in PG&E during the 2nd quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA grew its stake in shares of PG&E by 17.3% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider’s stock worth $1,779,352,000 after acquiring an additional 14,998,472 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of PG&E by 4.1% in the second quarter. Bank of Montreal Can now owns 13,320,166 shares of the utilities provider’s stock valued at $234,701,000 after purchasing an additional 526,645 shares during the last quarter. Finally, BROOKFIELD Corp ON lifted its position in shares of PG&E by 3.8% in the first quarter. BROOKFIELD Corp ON now owns 8,761,490 shares of the utilities provider’s stock worth $146,843,000 after purchasing an additional 317,040 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on PCG shares. Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. UBS Group lifted their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Morgan Stanley upped their price objective on 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, Bank of America assumed coverage on shares of PG&E in a report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $22.80.

PG&E Stock Up 0.0 %

PCG opened at $21.05 on Tuesday. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The stock’s fifty day simple moving average is $20.12 and its 200 day simple moving average is $18.90. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51. The stock has a market cap of $55.05 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03.

PG&E (NYSE:PCG) last issued its quarterly earnings data 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. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company’s revenue was up .9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.24 earnings per share. As a group, research analysts expect that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio is presently 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.