Zions Bancorporation N.A. Has $253,000 Holdings in PG&E Co. (NYSE:PCG)

Zions Bancorporation N.A. reduced its stake in shares of PG&E Co. (NYSE:PCG) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,804 shares of the utilities provider’s stock after selling 613 shares during the quarter. Zions Bancorporation N.A.’s holdings in PG&E were worth $253,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PCG. Axxcess Wealth Management LLC boosted its position in PG&E by 3.5% in the 1st quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider’s stock valued at $305,000 after buying an additional 614 shares during the last quarter. Ballentine Partners LLC boosted its holdings in PG&E by 3.1% in the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider’s stock valued at $392,000 after acquiring an additional 666 shares during the last quarter. Alta Advisers Ltd boosted its holdings in PG&E by 19.5% in the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider’s stock valued at $86,000 after acquiring an additional 800 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in PG&E by 14.5% in the second quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider’s stock worth $125,000 after purchasing an additional 863 shares during the period. Finally, Signaturefd LLC raised its holdings in PG&E by 9.8% during the 3rd quarter. Signaturefd LLC now owns 11,280 shares of the utilities provider’s stock worth $223,000 after purchasing an additional 1,009 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PCG shares. Jefferies Financial Group began 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. Bank of America initiated coverage on shares of PG&E in a research report on Thursday, September 12th. They set a “buy” rating and a $24.00 target price for the company. UBS Group raised their price target on PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Tuesday, September 3rd. Barclays upped their price objective on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Finally, Wells Fargo & Company boosted their target price on PG&E from $21.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $22.80.

PG&E Stock Performance

Shares of PCG stock opened at $21.04 on Friday. The company has a debt-to-equity ratio of 2.02, a quick ratio of 0.99 and a current ratio of 1.04. PG&E Co. has a 52 week low of $15.94 and a 52 week high of $21.51. The company’s 50 day moving average price is $20.11 and its two-hundred day moving average price is $18.85. The company has a market capitalization of $55.03 billion, a P/E ratio of 16.44, a price-to-earnings-growth ratio of 1.63 and a beta of 1.03.

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. The business had revenue of $5.94 billion for the quarter, compared to analyst estimates of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period last year, the business posted $0.24 earnings per share. On average, analysts expect 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. Stockholders of record on Monday, September 30th were given a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E’s dividend payout ratio is currently 3.13%.

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.