Atlas Capital Advisors LLC Decreases Stock Position in PG&E Co. (NYSE:PCG)

Atlas Capital Advisors LLC lessened its stake in shares of PG&E Co. (NYSE:PCG) by 25.8% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 18,703 shares of the utilities provider’s stock after selling 6,500 shares during the period. Atlas Capital Advisors LLC’s holdings in PG&E were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in PCG. Raymond James Trust N.A. grew its holdings in PG&E by 4.2% during the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock valued at $307,000 after buying an additional 680 shares in the last quarter. Bleakley Financial Group LLC increased its position in PG&E by 1.5% in the fourth quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock worth $817,000 after purchasing an additional 691 shares during the last quarter. Parallel Advisors LLC raised its stake in PG&E by 2.1% during the fourth quarter. Parallel Advisors LLC now owns 35,427 shares of the utilities provider’s stock valued at $639,000 after purchasing an additional 712 shares in the last quarter. Glenmede Trust Co. NA lifted its position in PG&E by 5.5% during the third quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider’s stock valued at $258,000 after purchasing an additional 835 shares during the last quarter. Finally, Caprock Group LLC grew its stake in shares of PG&E by 5.1% in the 4th quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider’s stock worth $370,000 after buying an additional 999 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

PG&E stock opened at $17.48 on Friday. The stock has a market cap of $50.33 billion, a price-to-earnings ratio of 15.61 and a beta of 1.19. The firm has a 50-day moving average of $17.91 and a two-hundred day moving average of $17.26. PG&E Co. has a 1 year low of $14.71 and a 1 year high of $18.95. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93.

PG&E (NYSE:PCG) last announced its quarterly earnings data on Thursday, April 25th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The company had revenue of $5.86 billion for the quarter, compared to analysts’ expectations of $6.60 billion. During the same quarter in the prior year, the firm earned $0.29 earnings per share. PG&E’s revenue was down 5.6% compared to the same quarter last year. On average, research analysts forecast that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. PG&E’s dividend payout ratio is presently 3.57%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price on the stock. Citigroup lifted their target price on PG&E from $19.00 to $21.00 and gave the stock a “buy” rating in a report on Friday, June 14th. Morgan Stanley decreased their price target on PG&E from $18.00 to $17.00 and set an “equal weight” rating on the stock in a report on Monday. Barclays dropped their price objective on shares of PG&E from $22.00 to $21.00 and set an “overweight” rating for the company in a research note on Monday, June 17th. Finally, Mizuho increased their target price on shares of PG&E from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $20.11.

Insider Transactions at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 59,000 shares of PG&E stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $17.08, for a total value of $1,007,720.00. Following the transaction, the chief executive officer now owns 1,515,777 shares in the company, valued at $25,889,471.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.15% of the company’s stock.

PG&E 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.