Mizuho Securities USA LLC Sells 26,174 Shares of PG&E Co. (NYSE:PCG)

Mizuho Securities USA LLC reduced its position in PG&E Co. (NYSE:PCG) by 15.9% during the third quarter, Holdings Channel reports. The institutional investor owned 138,603 shares of the utilities provider’s stock after selling 26,174 shares during the quarter. Mizuho Securities USA LLC’s holdings in PG&E were worth $2,740,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC acquired a new stake in PG&E in the second quarter valued at approximately $30,000. UMB Bank n.a. lifted its holdings in shares of PG&E by 84.7% during the 2nd quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 1,011 shares during the last quarter. Blue Trust Inc. boosted its position in shares of PG&E by 77.0% in the 2nd 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 acquired a new stake in shares of PG&E in the 2nd quarter worth $44,000. Finally, Massmutual Trust Co. FSB ADV grew its stake in PG&E by 48.8% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock worth $63,000 after buying an additional 1,179 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Price Performance

NYSE:PCG opened at $21.35 on Friday. The firm’s fifty day moving average is $20.24 and its two-hundred day moving average is $18.98. The firm has a market cap of $55.84 billion, a price-to-earnings ratio of 16.68, a PEG ratio of 1.63 and a beta of 1.03. 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 one year low of $15.94 and a one year high of $21.51.

PG&E (NYSE:PCG) last issued its earnings results 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 firm had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a return on equity of 12.51% and a net margin of 11.11%. The company’s revenue was up .9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.24 earnings per share. Research analysts expect that PG&E Co. will post 1.36 EPS for the current 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 paid a dividend of $0.01 per share. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.19%. PG&E’s payout ratio is 3.13%.

Wall Street Analyst Weigh In

PCG has been the subject of several recent analyst reports. Morgan Stanley raised their price target on PG&E from $19.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 25th. Jefferies Financial Group initiated coverage on shares of PG&E in a research note on Monday, October 14th. They issued a “buy” rating and a $24.00 target price for the company. Barclays boosted their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research report on Monday, October 21st. Bank of America began coverage on shares of PG&E in a report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target for the company. Finally, UBS Group upped their target price on PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research report on Tuesday, September 3rd. 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $22.80.

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.