Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in PG&E Co. (NYSE:PCG)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of PG&E Co. (NYSE:PCG) by 1.4% during the 4th quarter, HoldingsChannel reports. The fund owned 184,947 shares of the utilities provider’s stock after purchasing an additional 2,547 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in PG&E were worth $3,335,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Planned Solutions Inc. purchased a new stake in shares of PG&E during the 4th quarter worth about $37,000. AdvisorNet Financial Inc raised its position in shares of PG&E by 470.6% during the 3rd quarter. AdvisorNet Financial Inc now owns 2,442 shares of the utilities provider’s stock worth $39,000 after purchasing an additional 2,014 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of PG&E during the 4th quarter worth about $43,000. Millburn Ridgefield Corp acquired a new position in shares of PG&E during the 3rd quarter worth about $44,000. Finally, Catalyst Capital Advisors LLC acquired a new position in shares of PG&E during the 3rd quarter worth about $44,000. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Stock Up 0.1 %

PCG stock opened at $16.96 on Wednesday. The company has a market cap of $36.24 billion, a price-to-earnings ratio of 16.15 and a beta of 1.32. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04. PG&E Co. has a 12 month low of $14.71 and a 12 month high of $18.32. The firm has a 50-day moving average of $16.55 and a two-hundred day moving average of $16.88.

PG&E (NYSE:PCG) last released its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.47 EPS 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 company had revenue of $7.04 billion during the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm earned $0.26 EPS. As a group, analysts forecast that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Announces Dividend

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

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Barclays reduced their price target on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, January 22nd. JPMorgan Chase & Co. upped their price target on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, The Goldman Sachs Group started coverage on shares of PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price target for the company. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $18.89.

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.