Mirae Asset Global Investments Co. Ltd. Trims Stake in PG&E Co. (NYSE:PCG)

Mirae Asset Global Investments Co. Ltd. reduced its stake in shares of PG&E Co. (NYSE:PCG) by 22.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 326,426 shares of the utilities provider’s stock after selling 97,128 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in PG&E were worth $5,885,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. DekaBank Deutsche Girozentrale lifted its holdings in shares of PG&E by 7.1% during the 4th quarter. DekaBank Deutsche Girozentrale now owns 270,114 shares of the utilities provider’s stock worth $4,828,000 after acquiring an additional 17,852 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of PG&E during the 4th quarter worth $184,000. New York State Teachers Retirement System lifted its holdings in shares of PG&E by 0.9% during the 4th quarter. New York State Teachers Retirement System now owns 1,751,100 shares of the utilities provider’s stock worth $31,572,000 after acquiring an additional 16,062 shares during the last quarter. Allworth Financial LP lifted its holdings in shares of PG&E by 6.8% during the 4th quarter. Allworth Financial LP now owns 248,232 shares of the utilities provider’s stock worth $4,476,000 after acquiring an additional 15,898 shares during the last quarter. Finally, International Assets Investment Management LLC lifted its holdings in shares of PG&E by 84.9% during the 4th quarter. International Assets Investment Management LLC now owns 5,589 shares of the utilities provider’s stock worth $101,000 after acquiring an additional 2,566 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

PG&E Stock Performance

Shares of NYSE:PCG opened at $16.60 on Monday. The company has a market cap of $35.47 billion, a price-to-earnings ratio of 15.81 and a beta of 1.32. The company has a 50-day moving average price of $16.51 and a 200-day moving average price of $16.83. 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 Co. has a 12 month low of $14.71 and a 12 month high of $18.32.

PG&E (NYSE:PCG) last issued its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 EPS for the quarter, beating the consensus estimate of $0.46 by $0.01. The firm had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same period in the prior year, the firm posted $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 company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be 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 is Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is 3.81%.

Analyst Ratings Changes

PCG has been the subject of a number of research analyst reports. StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Barclays lowered their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on shares of PG&E in a research note 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 assigned a buy rating to the company. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and a consensus target price of $18.78.

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.