PG&E Co. (NYSE:PCG) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its position in PG&E Co. (NYSE:PCG) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,019,657 shares of the utilities provider’s stock after selling 25,230 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PG&E were worth $20,159,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the company. FORA Capital LLC purchased a new stake in PG&E in the 3rd quarter worth approximately $4,321,000. Glenmede Trust Co. NA grew its position in shares of PG&E by 15.9% in the third quarter. Glenmede Trust Co. NA now owns 20,992 shares of the utilities provider’s stock valued at $415,000 after purchasing an additional 2,878 shares during the period. Brooklyn Investment Group acquired a new position in PG&E in the third quarter valued at $115,000. FMR LLC lifted its position in PG&E by 5.1% during the third quarter. FMR LLC now owns 176,839,426 shares of the utilities provider’s stock worth $3,496,115,000 after buying an additional 8,604,396 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in PG&E by 3.9% in the 3rd 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. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PG&E stock opened at $21.63 on Friday. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.72. The stock has a market cap of $56.57 billion, a price-to-earnings ratio of 16.90, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. The company has a fifty day moving average price of $20.44 and a 200 day moving average price of $19.13.

PG&E (NYSE:PCG) last issued its quarterly earnings data 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 return on equity of 12.51% and a net margin of 11.11%. 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 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. Equities research analysts forecast that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.18%. The ex-dividend date was Monday, September 30th. PG&E’s dividend payout ratio (DPR) is 3.13%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. UBS Group upped their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Jefferies Financial Group assumed coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price target for the company. Mizuho increased their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday. Morgan Stanley boosted their price objective on shares of 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, Barclays increased their target price on PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $23.10.

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.