Sumitomo Mitsui Trust Holdings Inc. Purchases 603,222 Shares of PG&E Co. (NYSE:PCG)

Sumitomo Mitsui Trust Holdings Inc. increased its position in PG&E Co. (NYSE:PCG) by 13.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,188,119 shares of the utilities provider’s stock after buying an additional 603,222 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.20% of PG&E worth $93,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PCG. Clear Street Markets LLC bought a new stake in PG&E in the fourth quarter valued at approximately $26,000. Quarry LP purchased a new position in shares of PG&E during the second quarter valued at approximately $34,000. Planned Solutions Inc. purchased a new stake in PG&E in the fourth quarter worth $37,000. Toth Financial Advisory Corp purchased a new stake in PG&E in the third quarter worth $35,000. Finally, CVA Family Office LLC purchased a new stake in PG&E in the fourth quarter worth $43,000. Institutional investors own 78.56% of the company’s stock.

Analysts Set New Price Targets

PCG has been the topic of several recent research reports. StockNews.com raised PG&E from a “sell” rating to a “hold” rating in a research note on Thursday, February 1st. Barclays reduced their price target on PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, January 22nd. Finally, The Goldman Sachs Group initiated coverage on PG&E in a research note on Wednesday, April 10th. They issued a “buy” rating and a $21.00 price target on the stock. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

PG&E Trading Down 1.6 %

PG&E stock opened at $16.03 on Wednesday. The company has a market capitalization of $34.26 billion, a price-to-earnings ratio of 15.27 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 Co. has a 12 month low of $14.71 and a 12 month high of $18.32. The business’s fifty day simple moving average is $16.51 and its two-hundred day simple moving average is $16.83.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share (EPS) for the quarter, beating 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 return on equity of 10.84% and a net margin of 9.24%. During the same period in the prior year, the company posted $0.26 earnings per share. As a group, equities analysts predict that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date was Wednesday, March 27th. PG&E’s payout ratio is currently 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.