Public Sector Pension Investment Board Has $7.37 Million Stock Position in PG&E Co. (NYSE:PCG)

Public Sector Pension Investment Board cut its position in PG&E Co. (NYSE:PCG) by 2.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 372,961 shares of the utilities provider’s stock after selling 8,202 shares during the quarter. Public Sector Pension Investment Board’s holdings in PG&E were worth $7,373,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. FORA Capital LLC acquired a new stake in PG&E in the third quarter valued at approximately $4,321,000. Glenmede Trust Co. NA lifted its holdings in shares of PG&E by 15.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider’s stock worth $415,000 after purchasing an additional 2,878 shares in the last quarter. Brooklyn Investment Group acquired a new stake in PG&E in the 3rd quarter valued at $115,000. FMR LLC increased its stake in PG&E by 5.1% during the 3rd quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock valued at $3,496,115,000 after purchasing an additional 8,604,396 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in PG&E by 3.9% during the third quarter. The Manufacturers Life Insurance Company now owns 1,475,700 shares of the utilities provider’s stock worth $29,175,000 after buying an additional 55,236 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

PCG has been the subject of several recent research reports. 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 target price for the company. Jefferies Financial Group started coverage on PG&E in a report on Monday, October 14th. They issued a “buy” rating and a $24.00 target price on the stock. UBS Group upped their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Morgan Stanley raised their price objective on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a research note on Wednesday, September 25th. Finally, Mizuho upped their target price on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.10.

PG&E Stock Performance

NYSE PCG opened at $21.63 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. The company has a market capitalization of $56.57 billion, a PE ratio of 16.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The company has a 50-day simple moving average of $20.44 and a 200 day simple moving average of $19.13.

PG&E (NYSE:PCG) last posted its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion for the quarter, compared to analysts’ expectations of $6.58 billion. During the same quarter in the previous year, the firm posted $0.24 EPS. PG&E’s revenue was up .9% on a year-over-year basis. On average, research analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid 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 payout ratio is 3.13%.

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.