State of New Jersey Common Pension Fund D Has $20.55 Million Stock Holdings in PG&E Co. (NYSE:PCG)

State of New Jersey Common Pension Fund D lifted its stake in shares of PG&E Co. (NYSE:PCG) by 5.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,139,472 shares of the utilities provider’s stock after buying an additional 62,803 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in PG&E were worth $20,545,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. GAMMA Investing LLC acquired a new stake in shares of PG&E during the 4th quarter worth about $153,000. Illinois Municipal Retirement Fund lifted its stake in shares of PG&E by 194.5% during the 4th quarter. Illinois Municipal Retirement Fund now owns 282,790 shares of the utilities provider’s stock worth $5,099,000 after buying an additional 186,766 shares during the last quarter. New York State Common Retirement Fund lifted its stake in shares of PG&E by 3.0% during the 4th quarter. New York State Common Retirement Fund now owns 2,099,873 shares of the utilities provider’s stock worth $37,861,000 after buying an additional 60,973 shares during the last quarter. California Public Employees Retirement System raised its stake in PG&E by 50.7% in the 4th quarter. California Public Employees Retirement System now owns 5,754,849 shares of the utilities provider’s stock worth $103,760,000 after purchasing an additional 1,936,859 shares in the last quarter. Finally, CWM LLC raised its stake in PG&E by 10.7% in the 4th quarter. CWM LLC now owns 19,564 shares of the utilities provider’s stock worth $353,000 after purchasing an additional 1,891 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Up 0.4 %

NYSE:PCG traded up $0.07 during mid-day trading on Thursday, hitting $17.07. 16,434,230 shares of the company’s stock were exchanged, compared to its average volume of 15,634,307. The company has a 50 day simple moving average of $16.56 and a 200-day simple moving average of $16.88. 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 fifty-two week low of $14.71 and a fifty-two week high of $18.32. The firm has a market capitalization of $36.47 billion, a P/E ratio of 16.19 and a beta of 1.32.

PG&E (NYSE:PCG) last issued its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $7.04 billion for the quarter, compared to the consensus estimate of $6.43 billion. PG&E had a net margin of 9.24% and a return on equity of 10.84%. During the same quarter in the previous year, the company earned $0.26 EPS. As a group, research analysts expect that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

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 dividend of $0.01 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.23%. PG&E’s payout ratio is presently 3.81%.

Analyst Ratings Changes

Several analysts have weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price objective for the company. JPMorgan Chase & Co. raised their target price on shares of PG&E from $18.00 to $19.00 and gave the company a “neutral” rating in a report on Tuesday. Barclays decreased their target price on shares of PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. Finally, StockNews.com raised shares of PG&E from a “sell” rating to a “hold” rating in a 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. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $18.89.

PG&E Company 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.