Edgestream Partners L.P. Cuts Stock Position in PG&E Co. (NYSE:PCG)

Edgestream Partners L.P. trimmed its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 61.7% in the 3rd quarter, according to the company in 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.

A number of other institutional investors have also added to or reduced their stakes in PCG. Rothschild Investment LLC purchased a new stake in PG&E in the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its holdings in shares of 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 acquiring an additional 1,011 shares during the last quarter. Blue Trust Inc. grew its position in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider's stock worth $40,000 after acquiring an additional 1,027 shares in the last quarter. Plato Investment Management Ltd bought a new position in PG&E in the second quarter valued at $44,000. Finally, Massmutual Trust Co. FSB ADV lifted its stake in PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider's stock worth $63,000 after purchasing an additional 1,179 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of the firm's stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the completion of the transaction, the chief executive officer now owns 1,460,222 shares of the company's stock, valued at approximately $30,168,186.52. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 0.15% of the company's stock.

PG&E Trading Down 5.0 %

NYSE:PCG traded down $1.07 during mid-day trading on Monday, reaching $20.56. 53,332,950 shares of the company's stock traded hands, compared to its average volume of 13,954,567. The company has a 50 day moving average price of $20.45 and a 200-day moving average price of $19.16. The firm has a market capitalization of $53.76 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.66 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a current ratio of 1.04 and a quick ratio of 0.99. PG&E Co. has a 12-month low of $15.94 and a 12-month high of $21.72.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 net margin of 11.11% and a return on equity of 12.51%. The company's quarterly revenue was up .9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.24 EPS. On average, sell-side analysts predict that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 yield of 0.19%. PG&E's payout ratio is 3.13%.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCG. Bank of America initiated coverage on PG&E in a research report on Thursday, September 12th. They set a "buy" rating and a $24.00 price objective on the stock. 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. Barclays boosted 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. 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 target price on the stock. Finally, Morgan Stanley boosted 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. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $23.10.

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.