Mutual of America Capital Management LLC Trims Holdings in PG&E Co. (NYSE:PCG)

Mutual of America Capital Management LLC lowered its position in shares of PG&E Co. (NYSE:PCG) by 2.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 263,166 shares of the utilities provider’s stock after selling 6,329 shares during the quarter. Mutual of America Capital Management LLC’s holdings in PG&E were worth $5,203,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of PCG. Rothschild Investment LLC purchased a new position in shares of PG&E during the 2nd quarter valued at $30,000. UMB Bank n.a. boosted its stake in shares of PG&E by 84.7% in the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares during the period. Blue Trust Inc. grew its position in shares of PG&E by 77.0% during the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares in the last quarter. Plato Investment Management Ltd purchased a new position in PG&E in the 2nd quarter worth approximately $44,000. Finally, Massmutual Trust Co. FSB ADV boosted its stake in PG&E by 48.8% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 1,179 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on PCG shares. UBS Group boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Tuesday, September 3rd. Barclays increased their price objective on shares of PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Monday, October 21st. Bank of America assumed coverage on PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 target price on the stock. Wells Fargo & Company increased their price target on PG&E from $21.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, July 26th. Finally, Morgan Stanley upped their price objective on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.80.

PG&E Trading Up 0.5 %

PCG stock opened at $21.10 on Thursday. PG&E Co. has a twelve month low of $15.94 and a twelve month high of $21.51. The stock has a market capitalization of $55.18 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 1.62 and a beta of 1.03. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The firm’s fifty day simple moving average is $20.18 and its two-hundred day simple moving average is $18.95.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating the consensus estimate of $0.32 by $0.05. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm’s revenue was up .9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.24 EPS. As a group, analysts anticipate that PG&E Co. will post 1.36 earnings per share for the current year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a dividend yield of 0.19%. PG&E’s payout ratio is 3.13%.

PG&E 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.