PG&E Co. (NYSE:PCG) Shares Sold by Portside Wealth Group LLC

Portside Wealth Group LLC lessened its stake in shares of PG&E Co. (NYSE:PCG) by 16.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 61,769 shares of the utilities provider’s stock after selling 12,185 shares during the quarter. Portside Wealth Group LLC’s holdings in PG&E were worth $1,221,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in shares of PG&E in the 2nd quarter worth $30,000. UMB Bank n.a. boosted its holdings in PG&E by 84.7% in the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares in the last quarter. Blue Trust Inc. increased its position in PG&E by 77.0% during the 2nd quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new position in shares of PG&E during the 2nd quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV lifted its holdings 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 valued at $63,000 after buying an additional 1,179 shares during the period. 78.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PCG has been the subject of a number of recent analyst reports. Morgan Stanley raised their target price on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. UBS Group upped their target price 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 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. Jefferies Financial Group initiated 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. Finally, Barclays upped their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $22.80.

Insider Activity

In related news, VP Stephanie N. Williams sold 38,601 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $18.32, for a total value of $707,170.32. Following the completion of the sale, the vice president now directly owns 19,114 shares in the company, valued at approximately $350,168.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.15% of the company’s stock.

PG&E Stock Performance

NYSE:PCG opened at $20.38 on Friday. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $20.93. The firm has a 50 day simple moving average of $20.01 and a 200-day simple moving average of $18.71. The firm has a market cap of $53.30 billion, a PE ratio of 17.42, a P/E/G ratio of 1.53 and a beta of 1.03. The company has a debt-to-equity ratio of 1.99, a current ratio of 0.90 and a quick ratio of 0.86.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.20%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is 3.42%.

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.