PG&E Co. (NYSE:PCG) Shares Purchased by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of PG&E Co. (NYSE:PCG) by 9.0% in the 4th quarter, Holdings Channel reports. The firm owned 922,856 shares of the utilities provider’s stock after purchasing an additional 76,178 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PG&E were worth $16,639,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. First Trust Direct Indexing L.P. grew its stake in shares of PG&E by 13.8% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 27,142 shares of the utilities provider’s stock valued at $438,000 after buying an additional 3,299 shares during the period. Artemis Investment Management LLP grew its stake in shares of PG&E by 6.2% in the 4th quarter. Artemis Investment Management LLP now owns 7,598,807 shares of the utilities provider’s stock valued at $137,009,000 after buying an additional 446,848 shares during the period. LPL Financial LLC grew its stake in shares of PG&E by 8.9% in the 3rd quarter. LPL Financial LLC now owns 1,987,389 shares of the utilities provider’s stock valued at $32,057,000 after buying an additional 162,476 shares during the period. Mackenzie Financial Corp grew its stake in shares of PG&E by 78.7% in the 3rd quarter. Mackenzie Financial Corp now owns 654,687 shares of the utilities provider’s stock valued at $10,036,000 after buying an additional 288,280 shares during the period. Finally, Public Employees Retirement System of Ohio grew its stake in shares of PG&E by 8.1% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 881,981 shares of the utilities provider’s stock valued at $14,226,000 after buying an additional 66,364 shares during the period. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Price Performance

Shares of PCG opened at $16.54 on Friday. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32. The firm’s fifty day simple moving average is $16.51 and its 200-day simple moving average is $16.83. The firm has a market capitalization of $35.34 billion, a price-to-earnings ratio of 15.75 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 (NYSE:PCG) last announced its quarterly earnings data 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. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same period last year, the business earned $0.26 EPS. Equities analysts forecast 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 was paid on Monday, April 15th. Investors of record on Thursday, March 28th were given 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 was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is 3.81%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PCG shares. Barclays lowered their price objective 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. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Finally, The Goldman Sachs Group assumed 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. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, PG&E has an average rating of “Moderate Buy” and an average price target of $18.78.

About PG&E

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.