Edgestream Partners L.P. Sells 3,320 Shares of PG&E Co. (NYSE:PCG)

Edgestream Partners L.P. trimmed its position in shares of PG&E Co. (NYSE:PCG) by 2.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 138,704 shares of the utilities provider’s stock after selling 3,320 shares during the quarter. Edgestream Partners L.P.’s holdings in PG&E were worth $2,325,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Planned Solutions Inc. bought a new stake in shares of PG&E during the fourth quarter valued at approximately $37,000. Vima LLC bought a new stake in shares of PG&E during the 4th quarter valued at $41,000. CVA Family Office LLC purchased a new stake in shares of PG&E in the 4th quarter worth about $43,000. Pacific Capital Wealth Advisors Inc. bought a new position in shares of PG&E in the 4th quarter worth about $47,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new position in PG&E during the 4th quarter valued at about $54,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Insider Buying and Selling

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total transaction of $1,007,720.00. Following the completion of the sale, the chief executive officer now owns 1,515,777 shares of the company’s stock, valued at $25,889,471.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.15% of the stock is owned by insiders.

Wall Street Analyst Weigh In

PCG has been the topic of several recent research reports. Citigroup upped their price target on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Morgan Stanley cut their target price on PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. JPMorgan Chase & Co. raised PG&E from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $22.00 in a research report on Monday, June 10th. Barclays increased their price objective on shares of PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research report on Monday. Finally, The Goldman Sachs Group began coverage on shares of PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, PG&E has a consensus rating of “Moderate Buy” and an average price target of $20.22.

PG&E Stock Performance

NYSE:PCG traded down $0.17 on Tuesday, hitting $18.08. The stock had a trading volume of 1,110,813 shares, compared to its average volume of 14,388,543. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.95. The stock has a market cap of $52.06 billion, a price-to-earnings ratio of 16.13 and a beta of 1.08. The company has a quick ratio of 0.93, a current ratio of 0.99 and a debt-to-equity ratio of 2.08. The business’s 50-day simple moving average is $17.98 and its two-hundred day simple moving average is $17.23.

PG&E (NYSE:PCG) last posted its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.02. PG&E had a net margin of 10.05% and a return on equity of 11.32%. The company had revenue of $5.86 billion for the quarter, compared to the consensus estimate of $6.60 billion. During the same quarter last year, the firm posted $0.29 earnings per share. The firm’s revenue was down 5.6% compared to the same quarter last year. As a group, research analysts predict that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.01 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.04 annualized dividend and a dividend yield of 0.22%. PG&E’s dividend payout ratio (DPR) is 3.57%.

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.