Zurcher Kantonalbank Zurich Cantonalbank Grows Stock Position in PG&E Co. (NYSE:PCG)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in PG&E Co. (NYSE:PCG) by 9.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 922,856 shares of the utilities provider’s stock after buying an additional 76,178 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in PG&E were worth $16,639,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Raymond James Trust N.A. increased its holdings in PG&E by 4.2% during the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider’s stock valued at $307,000 after purchasing an additional 680 shares during the period. Bleakley Financial Group LLC increased its holdings in PG&E by 1.5% during the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider’s stock valued at $817,000 after purchasing an additional 691 shares during the period. Wetherby Asset Management Inc. increased its holdings in PG&E by 5.5% during the 1st quarter. Wetherby Asset Management Inc. now owns 14,490 shares of the utilities provider’s stock valued at $234,000 after purchasing an additional 752 shares during the period. Lumbard & Kellner LLC boosted its position in PG&E by 3.1% during the 4th quarter. Lumbard & Kellner LLC now owns 26,003 shares of the utilities provider’s stock valued at $423,000 after acquiring an additional 790 shares in the last quarter. Finally, Signaturefd LLC boosted its position in PG&E by 10.9% during the 3rd quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider’s stock valued at $130,000 after acquiring an additional 794 shares in the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the company. The Goldman Sachs Group assumed coverage on PG&E in a research report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective on the stock. Barclays cut their price objective on PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research report on Monday, January 22nd. Finally, StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. 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 has an average rating of “Moderate Buy” and an average target price of $18.78.

PG&E Price Performance

Shares of NYSE 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 has a market cap of $35.34 billion, a P/E ratio of 15.75 and a beta of 1.32. The company has a 50 day moving average of $16.51 and a 200 day moving average of $16.83. The company has a quick ratio of 0.78, a current ratio of 0.83 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, topping 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 analyst estimates of $6.43 billion. During the same period in the previous year, the business earned $0.26 EPS. As a group, research analysts expect that PG&E Co. will post 1.35 EPS for the current fiscal year.

PG&E Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 annualized dividend 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 presently 3.81%.

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.