PG&E Co. (NYSE:PCG) Shares Purchased by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund boosted its holdings in PG&E Co. (NYSE:PCG) by 194.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 282,790 shares of the utilities provider’s stock after purchasing an additional 186,766 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in PG&E were worth $5,099,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Planned Solutions Inc. acquired a new position in PG&E in the fourth quarter valued at approximately $37,000. AdvisorNet Financial Inc boosted its holdings in PG&E by 470.6% in the third quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 2,014 shares in the last quarter. CVA Family Office LLC acquired a new position in PG&E in the fourth quarter valued at approximately $43,000. Millburn Ridgefield Corp acquired a new position in PG&E in the third quarter valued at approximately $44,000. Finally, Catalyst Capital Advisors LLC acquired a new position in PG&E in the third quarter valued at approximately $44,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. JPMorgan Chase & Co. increased their price objective on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays decreased their price objective on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. Finally, The Goldman Sachs Group assumed coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective for the company. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

PG&E Price Performance

PG&E stock opened at $16.96 on Wednesday. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. The business has a 50 day simple moving average of $16.55 and a 200-day simple moving average of $16.88. The stock has a market capitalization of $36.24 billion, a PE ratio of 16.15 and a beta of 1.32.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter in the prior year, the business earned $0.26 earnings per share. Equities analysts predict that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s payout ratio is 3.81%.

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.