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

Mizuho Securities USA LLC lessened its holdings in PG&E Co. (NYSE:PCG) by 15.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 138,603 shares of the utilities provider’s stock after selling 26,174 shares during the period. Mizuho Securities USA LLC’s holdings in PG&E were worth $2,740,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of PCG. Massachusetts Financial Services Co. MA increased its holdings in shares of PG&E by 2.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 104,846,953 shares of the utilities provider’s stock worth $2,072,824,000 after buying an additional 2,936,763 shares during the last quarter. Intech Investment Management LLC grew its position in PG&E by 44.1% in the third quarter. Intech Investment Management LLC now owns 582,179 shares of the utilities provider’s stock worth $11,510,000 after acquiring an additional 178,245 shares in the last quarter. Commerce Bank increased its stake in PG&E by 1.5% during the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider’s stock worth $930,000 after acquiring an additional 712 shares during the last quarter. PNC Financial Services Group Inc. raised its position in PG&E by 15.5% during the third quarter. PNC Financial Services Group Inc. now owns 91,289 shares of the utilities provider’s stock valued at $1,805,000 after purchasing an additional 12,226 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new stake in shares of PG&E in the 3rd quarter valued at approximately $855,000. Hedge funds and other institutional investors own 78.56% of the company’s stock.

PG&E Stock Performance

Shares of PG&E stock opened at $21.35 on Friday. PG&E Co. has a 12 month low of $15.94 and a 12 month high of $21.51. The stock’s fifty day moving average price is $20.24 and its 200-day moving average price is $18.98. The firm has a market cap of $55.84 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.63 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02.

PG&E (NYSE:PCG) last posted its earnings results on Thursday, November 7th. The utilities provider reported $0.37 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. During the same quarter last year, the firm posted $0.24 EPS. The company’s revenue for the quarter was up .9% on a year-over-year basis. On average, equities research analysts expect that PG&E Co. will post 1.36 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued 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 yield of 0.19%. PG&E’s dividend payout ratio is currently 3.13%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Barclays boosted their target price on PG&E from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. Jefferies Financial Group began coverage on shares of PG&E in a research report on Monday, October 14th. They set a “buy” rating and a $24.00 price objective on the stock. UBS Group raised 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. Morgan Stanley upped their price target on shares of PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Finally, Bank of America started coverage on shares of PG&E in a research report on Thursday, September 12th. They issued a “buy” rating and a $24.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.