Mackenzie Financial Corp Sells 125,214 Shares of PG&E Co. (NYSE:PCG)

Mackenzie Financial Corp trimmed its position in shares of PG&E Co. (NYSE:PCG) by 19.1% in the fourth quarter, Holdings Channel reports. The fund owned 529,473 shares of the utilities provider’s stock after selling 125,214 shares during the quarter. Mackenzie Financial Corp’s holdings in PG&E were worth $9,546,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Clear Street Markets LLC bought a new stake in shares of PG&E in the fourth quarter valued at about $26,000. Quarry LP bought a new stake in shares of PG&E in the second quarter valued at about $34,000. Toth Financial Advisory Corp bought a new stake in shares of PG&E in the third quarter valued at about $35,000. Planned Solutions Inc. bought a new stake in shares of PG&E in the fourth quarter valued at about $37,000. Finally, AdvisorNet Financial Inc lifted its stake in shares of 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 buying an additional 2,014 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PCG. The Goldman Sachs Group began coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. Barclays dropped 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 report on Monday, January 22nd. Finally, StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $18.78.

PG&E Stock Performance

NYSE:PCG opened at $16.85 on Friday. PG&E Co. has a 12-month low of $14.71 and a 12-month high of $18.32. The company has a quick ratio of 0.78, a current ratio of 0.83 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $36.00 billion, a PE ratio of 16.04 and a beta of 1.32. The firm has a 50-day moving average price of $16.51 and a 200 day moving average price of $16.82.

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, topping the consensus estimate of $0.46 by $0.01. The company had revenue of $7.04 billion during the quarter, compared to analyst estimates of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same quarter last year, the business posted $0.26 earnings per share. Research analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued 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 of this dividend was Wednesday, March 27th. PG&E’s payout ratio is 3.81%.

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.