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

Atria Investments Inc reduced its position in shares of PG&E Co. (NYSE:PCG) by 30.4% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,582 shares of the utilities provider’s stock after selling 17,719 shares during the period. Atria Investments Inc’s holdings in PG&E were worth $802,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd raised its stake in shares of PG&E by 74.5% in the first quarter. Covestor Ltd now owns 4,997 shares of the utilities provider’s stock valued at $84,000 after acquiring an additional 2,134 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of PG&E by 18.2% during the first quarter. O Shaughnessy Asset Management LLC now owns 26,294 shares of the utilities provider’s stock worth $441,000 after purchasing an additional 4,045 shares during the last quarter. Seven Eight Capital LP raised its holdings in shares of PG&E by 264.5% in the first quarter. Seven Eight Capital LP now owns 37,329 shares of the utilities provider’s stock valued at $626,000 after buying an additional 27,089 shares during the last quarter. National Bank of Canada FI lifted its position in PG&E by 84.7% during the 1st quarter. National Bank of Canada FI now owns 1,857,315 shares of the utilities provider’s stock worth $33,116,000 after buying an additional 851,580 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co grew its holdings in PG&E by 4.0% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 3,088,732 shares of the utilities provider’s stock worth $51,769,000 after acquiring an additional 118,368 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Price Performance

Shares of 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 has a market cap of $55.05 billion, a P/E ratio of 16.42, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. The stock’s 50-day moving average price is $20.12 and its two-hundred day moving average price is $18.90. PG&E Co. has a 1 year low of $15.94 and a 1 year high of $21.51.

PG&E (NYSE:PCG) last issued its earnings results 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 firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter in the prior year, the firm earned $0.24 earnings per share. The business’s quarterly revenue was up .9% on a year-over-year basis. 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given 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 of this dividend was Monday, September 30th. PG&E’s dividend payout ratio is currently 3.13%.

Analyst Ratings Changes

A number of brokerages have weighed in on PCG. Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Jefferies Financial Group assumed coverage on PG&E in a report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. Wells Fargo & Company lifted their target price on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Bank of America began coverage on PG&E in a research note on Thursday, September 12th. They set a “buy” rating and a $24.00 price target on the stock. Finally, UBS Group lifted their price objective on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.80.

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.