PG&E Co. (NYSE:PCG) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp lessened its stake in shares of PG&E Co. (NYSE:PCG) by 19.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 529,473 shares of the utilities provider’s stock after selling 125,214 shares during the quarter. Mackenzie Financial Corp’s holdings in PG&E were worth $9,546,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of PCG. Raymond James & Associates grew its holdings in PG&E by 44.3% during the 1st quarter. Raymond James & Associates now owns 337,858 shares of the utilities provider’s stock valued at $4,034,000 after buying an additional 103,767 shares during the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in PG&E by 86.2% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 146,663 shares of the utilities provider’s stock valued at $1,751,000 after buying an additional 67,898 shares during the last quarter. American Century Companies Inc. grew its holdings in PG&E by 190.4% during the 1st quarter. American Century Companies Inc. now owns 183,755 shares of the utilities provider’s stock valued at $2,194,000 after buying an additional 120,468 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in PG&E by 3.8% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,636 shares of the utilities provider’s stock valued at $366,000 after buying an additional 1,122 shares during the last quarter. Finally, Cetera Advisor Networks LLC acquired a new stake in shares of PG&E during the first quarter worth $154,000. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Trading Up 1.8 %

Shares of PCG opened at $16.85 on Friday. The company has a current ratio of 0.83, a quick ratio of 0.78 and a debt-to-equity ratio of 2.04. The firm has a market capitalization of $36.00 billion, a P/E ratio of 16.04 and a beta of 1.32. The stock’s fifty day simple moving average is $16.51 and its 200 day simple moving average is $16.82. PG&E Co. has a twelve month low of $14.71 and a twelve month high of $18.32.

PG&E (NYSE:PCG) last issued its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.46 by $0.01. The business had revenue of $7.04 billion for the quarter, compared to analyst estimates 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 last year, the company posted $0.26 EPS. On average, equities research analysts forecast that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.24%. The ex-dividend date was Wednesday, March 27th. PG&E’s dividend payout ratio (DPR) is presently 3.81%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PCG shares. Barclays decreased their price objective on PG&E from $20.00 to $19.00 and set an “overweight” rating on the stock in a report on Monday, January 22nd. The Goldman Sachs Group started coverage on PG&E in a report on Wednesday, April 10th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, StockNews.com upgraded PG&E from a “sell” rating to a “hold” rating in a report on Thursday, February 1st. Four investment 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $18.78.

PG&E 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.