Thrivent Financial for Lutherans Sells 2,354 Shares of PG&E Co. (NYSE:PCG)

Thrivent Financial for Lutherans trimmed its holdings in shares of PG&E Co. (NYSE:PCG) by 2.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 83,870 shares of the utilities provider’s stock after selling 2,354 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PG&E were worth $1,658,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ballentine Partners LLC grew its position 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 acquiring an additional 666 shares during the period. Alta Advisers Ltd grew its holdings in 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 purchasing an additional 800 shares during the period. EverSource Wealth Advisors LLC increased its position in PG&E by 14.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after buying an additional 863 shares in the last quarter. Signaturefd LLC raised its stake in shares of PG&E by 9.8% in the third quarter. Signaturefd LLC now owns 11,280 shares of the utilities provider’s stock worth $223,000 after buying an additional 1,009 shares during the period. Finally, UMB Bank n.a. lifted its position 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 valued at $38,000 after buying an additional 1,011 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 equities research analysts have commented on PCG shares. Jefferies Financial Group assumed coverage on shares of PG&E in a research note on Monday, October 14th. They set a “buy” rating and a $24.00 target price on the stock. Barclays lifted their target price on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 21st. UBS Group increased their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Tuesday, September 3rd. Mizuho boosted their price objective on PG&E from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Bank of America assumed coverage on PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.10.

PG&E Price Performance

NYSE PCG opened at $21.63 on Friday. The stock has a 50 day moving average price of $20.44 and a 200-day moving average price of $19.13. PG&E Co. has a one year low of $15.94 and a one year high of $21.72. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market capitalization of $56.57 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.66 and a beta of 1.03.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same quarter last year, the business earned $0.24 earnings per share. PG&E’s quarterly revenue was up .9% compared to the same quarter last year. As a group, equities analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid 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 yield of 0.18%. PG&E’s payout ratio is currently 3.13%.

PG&E 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.