PG&E Co. (NYSE:PCG) Shares Acquired by New York State Common Retirement Fund

New York State Common Retirement Fund lifted its stake in shares of PG&E Co. (NYSE:PCG) by 3.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 2,099,873 shares of the utilities provider’s stock after purchasing an additional 60,973 shares during the period. New York State Common Retirement Fund’s holdings in PG&E were worth $37,861,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. California Public Employees Retirement System grew its position in shares of PG&E by 50.7% during the fourth quarter. California Public Employees Retirement System now owns 5,754,849 shares of the utilities provider’s stock worth $103,760,000 after buying an additional 1,936,859 shares in the last quarter. CWM LLC grew its position in shares of PG&E by 10.7% during the fourth quarter. CWM LLC now owns 19,564 shares of the utilities provider’s stock worth $353,000 after buying an additional 1,891 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of PG&E by 1.4% during the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 184,947 shares of the utilities provider’s stock worth $3,335,000 after buying an additional 2,547 shares in the last quarter. Signaturefd LLC grew its position in shares of PG&E by 20.2% during the fourth quarter. Signaturefd LLC now owns 9,694 shares of the utilities provider’s stock worth $175,000 after buying an additional 1,627 shares in the last quarter. Finally, Lindbrook Capital LLC boosted its holdings in PG&E by 6.7% in the fourth quarter. Lindbrook Capital LLC now owns 16,431 shares of the utilities provider’s stock valued at $296,000 after purchasing an additional 1,038 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Price Performance

PCG stock opened at $17.00 on Thursday. The company has a market capitalization of $36.33 billion, a P/E ratio of 16.19 and a beta of 1.32. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32. The business has a 50 day simple moving average of $16.56 and a 200-day simple moving average of $16.88. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04.

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

PG&E Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. The ex-dividend date was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is presently 3.81%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Barclays lowered their price target on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a report on Monday, January 22nd. JPMorgan Chase & Co. upped their price target on PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, The Goldman Sachs Group began coverage on PG&E in a report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $18.89.

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.