PG&E Co. (NYSE:PCG) Position Increased by Arizona State Retirement System

Arizona State Retirement System raised its stake in PG&E Co. (NYSE:PCG) by 7.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 556,985 shares of the utilities provider’s stock after acquiring an additional 39,721 shares during the period. Arizona State Retirement System’s holdings in PG&E were worth $10,042,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. First Trust Direct Indexing L.P. lifted its stake in PG&E by 13.8% during the third quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock valued at $438,000 after buying an additional 3,299 shares in the last quarter. Artemis Investment Management LLP grew its position in PG&E by 6.2% during the 4th quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock worth $137,009,000 after purchasing an additional 446,848 shares in the last quarter. LPL Financial LLC raised its stake in PG&E by 8.9% during the 3rd quarter. LPL Financial LLC now owns 1,987,389 shares of the utilities provider’s stock valued at $32,057,000 after purchasing an additional 162,476 shares during the period. Mackenzie Financial Corp boosted its position in shares of PG&E by 78.7% in the third quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock worth $10,036,000 after buying an additional 288,280 shares during the period. Finally, Public Employees Retirement System of Ohio grew its holdings in shares of PG&E by 8.1% during the third quarter. Public Employees Retirement System of Ohio now owns 881,981 shares of the utilities provider’s stock valued at $14,226,000 after buying an additional 66,364 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Barclays dropped their target price on PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $18.50.

PG&E Stock Performance

Shares of PCG opened at $16.81 on Friday. The firm has a market cap of $43.90 billion, a price-to-earnings ratio of 16.01, a price-to-earnings-growth ratio of 4.97 and a beta of 1.32. The company’s fifty day moving average is $16.53 and its 200-day moving average is $16.84. The company has a quick ratio of 0.78, a current ratio of 0.83 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 posted its earnings results 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 company had revenue of $7.04 billion for the quarter, compared to analyst estimates 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 last year, the company earned $0.26 earnings per share. Equities analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Thursday, March 28th will be given a dividend of $0.01 per share. The ex-dividend date is Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a yield of 0.24%. PG&E’s payout ratio is currently 3.81%.

About PG&E

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.