GSA Capital Partners LLP Sells 89,260 Shares of PG&E Co. (NYSE:PCG)

GSA Capital Partners LLP cut its holdings in shares of PG&E Co. (NYSE:PCG - Free Report) by 85.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 14,630 shares of the utilities provider's stock after selling 89,260 shares during the quarter. GSA Capital Partners LLP's holdings in PG&E were worth $289,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. King Street Capital Management L.P. purchased a new position in shares of PG&E in the second quarter worth $1,964,250,000. Massachusetts Financial Services Co. MA increased its stake in shares of PG&E by 17.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 101,910,190 shares of the utilities provider's stock worth $1,779,352,000 after buying an additional 14,998,472 shares during the period. Bank of Montreal Can raised its holdings in PG&E by 4.1% in the 2nd quarter. Bank of Montreal Can now owns 13,320,166 shares of the utilities provider's stock worth $234,701,000 after purchasing an additional 526,645 shares in the last quarter. BROOKFIELD Corp ON lifted its position in shares of PG&E by 3.8% in the 1st 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 during the period. Finally, Artemis Investment Management LLP raised its stake in PG&E by 3.4% in the second quarter. Artemis Investment Management LLP now owns 6,873,401 shares of the utilities provider's stock worth $120,010,000 after buying an additional 223,942 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCG. Bank of America began coverage on PG&E in a report on Thursday, September 12th. They set a "buy" rating and a $24.00 target price on the stock. Wells Fargo & Company boosted their price objective on shares of PG&E from $21.00 to $22.00 and gave the stock an "overweight" rating in a research note on Friday, July 26th. UBS Group lifted their target price on shares of PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a report on Tuesday, September 3rd. Morgan Stanley upped their price target 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, Barclays boosted 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, PG&E has a consensus rating of "Moderate Buy" and a consensus price target of $22.80.

PG&E Price Performance

NYSE PCG opened at $21.35 on Friday. The business's fifty day moving average price is $20.24 and its 200-day moving average price is $18.98. The stock has a market capitalization of $55.84 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.63 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 1-year low of $15.94 and a 1-year high of $21.51.

PG&E (NYSE:PCG - Get Free Report) last released its quarterly 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. The firm had revenue of $5.94 billion for the quarter, compared to analysts' expectations of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company's revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.24 EPS. On average, equities 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 declared 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E's payout ratio is 3.13%.

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.