New York State Common Retirement Fund Increases Stake in PG&E Co. (NYSE:PCG)

New York State Common Retirement Fund grew its position in PG&E Co. (NYSE:PCG) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,099,873 shares of the utilities provider’s stock after acquiring an additional 60,973 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of PG&E worth $37,861,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in the stock. California Public Employees Retirement System increased its stake in PG&E by 50.7% in the 4th quarter. California Public Employees Retirement System now owns 5,754,849 shares of the utilities provider’s stock worth $103,760,000 after buying an additional 1,936,859 shares during the period. CWM LLC increased its stake in PG&E by 10.7% in the 4th quarter. CWM LLC now owns 19,564 shares of the utilities provider’s stock worth $353,000 after buying an additional 1,891 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in PG&E by 1.4% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 184,947 shares of the utilities provider’s stock worth $3,335,000 after buying an additional 2,547 shares during the period. Signaturefd LLC increased its stake in PG&E by 20.2% in the 4th quarter. Signaturefd LLC now owns 9,694 shares of the utilities provider’s stock worth $175,000 after buying an additional 1,627 shares during the period. Finally, Lindbrook Capital LLC increased its stake in PG&E by 6.7% in the 4th quarter. Lindbrook Capital LLC now owns 16,431 shares of the utilities provider’s stock worth $296,000 after buying an additional 1,038 shares during the period. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on PCG shares. StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. The Goldman Sachs Group initiated coverage on shares of PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 target price on the stock. JPMorgan Chase & Co. increased their target price on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a report on Tuesday. Finally, Barclays dropped their target price on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $18.89.

PG&E Stock Up 0.2 %

NYSE:PCG opened at $17.00 on Thursday. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The stock has a market capitalization of $36.33 billion, a P/E ratio of 16.19 and a beta of 1.32. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.78 and a current ratio of 0.83. The company’s 50-day simple moving average is $16.56 and its 200-day simple moving average is $16.88.

PG&E (NYSE:PCG) last released its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.46 by $0.01. PG&E had a net margin of 9.24% and a return on equity of 10.84%. The business had revenue of $7.04 billion for the quarter, compared to analysts’ expectations of $6.43 billion. During the same period last year, the business earned $0.26 EPS. On average, equities analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given a $0.01 dividend. 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 currently 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.