PG&E Co. (NYSE:PCG) Position Reduced by Townsquare Capital LLC

Townsquare Capital LLC trimmed its stake in shares of PG&E Co. (NYSE:PCG) by 15.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 398,342 shares of the utilities provider’s stock after selling 72,377 shares during the quarter. Townsquare Capital LLC’s holdings in PG&E were worth $7,875,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in PCG. Rothschild Investment LLC bought a new position in PG&E during the 2nd quarter valued at $30,000. UMB Bank n.a. lifted its position in shares of PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after buying an additional 1,011 shares during the last quarter. Blue Trust Inc. lifted its position in shares of PG&E by 77.0% in the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after buying an additional 1,027 shares during the last quarter. Plato Investment Management Ltd bought a new position in shares of PG&E in the 2nd quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV lifted its position in shares of PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

PCG has been the topic of a number of recent research reports. Jefferies Financial Group initiated coverage on shares of PG&E in a research report on Monday, October 14th. They issued a “buy” rating and a $24.00 price target on the stock. UBS Group raised their price target on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Morgan Stanley increased their price objective on shares of PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Finally, Mizuho increased their price objective on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.10.

PG&E Stock Up 0.6 %

PG&E stock opened at $21.63 on Thursday. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 16.90, a PEG ratio of 1.63 and a beta of 1.03. 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 company’s 50-day moving average price is $20.37 and its two-hundred day moving average price is $19.09. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.72.

PG&E (NYSE:PCG) last released 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. The firm had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. PG&E’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.24 EPS. On average, analysts expect that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently announced 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 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.