PG&E Co. (NYSE:PCG) Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its holdings in PG&E Co. (NYSE:PCG) by 36.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 43,300 shares of the utilities provider’s stock after selling 24,944 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in PG&E were worth $856,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in PCG. Rothschild Investment LLC acquired a new position in shares of PG&E in the 2nd quarter valued at $30,000. UMB Bank n.a. lifted its position in PG&E by 84.7% in the second 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 during the last quarter. Blue Trust Inc. boosted its stake in PG&E by 77.0% during the second 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 period. Plato Investment Management Ltd acquired a new stake in shares of PG&E during the second quarter valued at about $44,000. Finally, Massmutual Trust Co. FSB ADV raised its stake 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 acquiring an additional 1,179 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Stock Up 0.6 %

Shares of PG&E stock opened at $21.63 on Thursday. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The company has a market capitalization of $56.57 billion, a P/E ratio of 16.90, a P/E/G ratio of 1.63 and a beta of 1.03. The company has a 50 day moving average of $20.33 and a 200 day moving average of $19.07.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, November 7th. The utilities provider reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates 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 was up .9% on a year-over-year basis. During the same period last year, the business earned $0.24 EPS. As a group, research analysts forecast that PG&E Co. will post 1.36 EPS for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.18%. PG&E’s dividend payout ratio is currently 3.13%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on PCG shares. Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 price objective for the company. Morgan Stanley boosted their price objective on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Mizuho boosted their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. Barclays raised their price objective 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. Finally, Jefferies Financial Group started 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. Two analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.10.

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.