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

GSA Capital Partners LLP lessened its position in shares of PG&E Co. (NYSE:PCG) by 85.9% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 14,630 shares of the utilities provider’s stock after selling 89,260 shares during the period. GSA Capital Partners LLP’s holdings in PG&E were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PCG. King Street Capital Management L.P. bought a new stake in shares of PG&E during the second quarter worth approximately $1,964,250,000. Massachusetts Financial Services Co. MA boosted its holdings in shares of PG&E by 17.3% during 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 acquiring an additional 14,998,472 shares during the period. Clearbridge Investments LLC bought a new stake in shares of PG&E during the second quarter worth approximately $56,679,000. Marshall Wace LLP boosted its holdings in shares of PG&E by 2,850.3% during the second quarter. Marshall Wace LLP now owns 1,946,520 shares of the utilities provider’s stock worth $33,986,000 after acquiring an additional 1,880,542 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in shares of PG&E by 234.4% during the second quarter. AQR Capital Management LLC now owns 2,112,399 shares of the utilities provider’s stock worth $36,713,000 after acquiring an additional 1,480,788 shares during the period. Institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PG&E Stock Up 0.6 %

Shares of NYSE:PCG opened at $21.35 on Friday. The company has a fifty day moving average of $20.24 and a 200-day moving average of $18.98. The company has a market capitalization of $55.84 billion, a PE ratio of 16.59, a price-to-earnings-growth ratio of 1.61 and a beta of 1.03. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.51.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion during 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 revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.24 earnings per share. On average, equities analysts predict that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. PG&E’s payout ratio is 3.13%.

About PG&E

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.