State of Michigan Retirement System Sells 9,600 Shares of PG&E Co. (NYSE:PCG)

State of Michigan Retirement System decreased its position in PG&E Co. (NYSE:PCGFree Report) by 1.5% during the fourth quarter, Holdings Channel reports. The fund owned 645,760 shares of the utilities provider’s stock after selling 9,600 shares during the period. State of Michigan Retirement System’s holdings in PG&E were worth $11,643,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. raised its stake in shares of PG&E by 4.2% in the fourth quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock worth $307,000 after buying an additional 680 shares during the period. Wetherby Asset Management Inc. grew its position in shares of PG&E by 5.5% during the first quarter. Wetherby Asset Management Inc. now owns 14,490 shares of the utilities provider’s stock worth $234,000 after purchasing an additional 752 shares in the last quarter. Centre Asset Management LLC grew its position in shares of PG&E by 4.9% during the third quarter. Centre Asset Management LLC now owns 15,994 shares of the utilities provider’s stock worth $258,000 after purchasing an additional 753 shares in the last quarter. Lumbard & Kellner LLC grew its position in shares of PG&E by 3.1% during the fourth quarter. Lumbard & Kellner LLC now owns 26,003 shares of the utilities provider’s stock worth $423,000 after purchasing an additional 790 shares in the last quarter. Finally, Signaturefd LLC grew its position in shares of PG&E by 10.9% during the third quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 794 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PCG. StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Barclays cut their target price on PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, PG&E presently has an average rating of “Moderate Buy” and a consensus price target of $18.72.

Check Out Our Latest Stock Report on PG&E

PG&E Stock Performance

NYSE PCG opened at $16.69 on Wednesday. The stock has a market capitalization of $43.58 billion, a PE ratio of 15.90, a P/E/G ratio of 4.88 and a beta of 1.32. The business has a 50 day simple moving average of $16.54 and a two-hundred day simple moving average of $16.85. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. PG&E Co. has a 1-year low of $14.71 and a 1-year high of $18.32.

PG&E (NYSE:PCGGet Free Report) last released its quarterly 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 business had revenue of $7.04 billion during the quarter, compared to analysts’ expectations of $6.43 billion. PG&E had a return on equity of 10.84% and a net margin of 9.24%. During the same quarter last year, the business posted $0.26 EPS. On average, research analysts predict that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

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

PG&E Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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