Greenland Capital Management LP Sells 312,620 Shares of PG&E Co. (NYSE:PCG)

Greenland Capital Management LP trimmed its position in shares of PG&E Co. (NYSE:PCG) by 38.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 495,677 shares of the utilities provider’s stock after selling 312,620 shares during the quarter. Greenland Capital Management LP’s holdings in PG&E were worth $8,015,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of PCG. Clear Street Markets LLC purchased a new stake in shares of PG&E during the fourth quarter worth about $26,000. Tucker Asset Management LLC acquired a new position in PG&E during the 1st quarter valued at approximately $28,000. Ameritas Advisory Services LLC purchased a new position in shares of PG&E in the first quarter worth $32,000. BOKF NA acquired a new stake in shares of PG&E during the first quarter worth $36,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in shares of PG&E during the first quarter valued at $40,000. 74.35% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. Guggenheim lowered their price target on PG&E from $22.00 to $21.00 in a research report on Friday, July 7th. Royal Bank of Canada upped their target price on PG&E from $20.00 to $21.00 in a research report on Tuesday, May 30th. Morgan Stanley reduced their price target on shares of PG&E from $15.00 to $14.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 23rd. Barclays began coverage on shares of PG&E in a report on Wednesday, August 23rd. They issued an “overweight” rating and a $19.00 price objective on the stock. Finally, UBS Group raised shares of PG&E from a “neutral” rating to a “buy” rating and raised their target price for the stock from $19.00 to $21.00 in a report on Monday, August 7th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, PG&E currently has an average rating of “Moderate Buy” and an average target price of $19.14.

PG&E Stock Down 0.4 %

PCG stock opened at $16.90 on Tuesday. The stock has a market cap of $43.42 billion, a P/E ratio of 18.57, a PEG ratio of 5.55 and a beta of 1.12. The company has a current ratio of 0.96, a quick ratio of 0.89 and a debt-to-equity ratio of 2.09. PG&E Co. has a twelve month low of $12.13 and a twelve month high of $18.19. The company’s 50 day moving average is $17.23 and its two-hundred day moving average is $16.86.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.27 by ($0.04). The company had revenue of $5.29 billion during the quarter, compared to analysts’ expectations of $5.49 billion. PG&E had a net margin of 8.79% and a return on equity of 9.79%. PG&E’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm earned $0.25 earnings per share. Research analysts expect that PG&E Co. will post 1.21 earnings per share for the current fiscal year.

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.