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

State of New Jersey Common Pension Fund D increased its position in PG&E Co. (NYSE:PCG) by 5.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,139,472 shares of the utilities provider’s stock after purchasing an additional 62,803 shares during the period. State of New Jersey Common Pension Fund D’s holdings in PG&E were worth $20,545,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in PG&E in the 4th quarter worth approximately $153,000. Illinois Municipal Retirement Fund lifted its position in PG&E by 194.5% in 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 in the last quarter. New York State Common Retirement Fund lifted its position in PG&E by 3.0% in 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 in the last quarter. California Public Employees Retirement System lifted its position 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 buying an additional 1,936,859 shares in the last quarter. Finally, CWM LLC lifted its position 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 buying an additional 1,891 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

PG&E Stock Up 0.4 %

Shares of PCG stock traded up $0.07 on Thursday, hitting $17.07. The company’s stock had a trading volume of 16,434,230 shares, compared to its average volume of 15,634,307. The stock has a market capitalization of $36.47 billion, a price-to-earnings ratio of 16.19 and a beta of 1.32. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.83 and a quick ratio of 0.78. PG&E Co. has a fifty-two week low of $14.71 and a fifty-two week high of $18.32. The firm’s fifty day moving average price is $16.56 and its 200-day moving average price is $16.88.

PG&E (NYSE:PCG) last released its earnings results on Thursday, February 22nd. The utilities provider reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.01. The firm had revenue of $7.04 billion during the quarter, compared to analyst estimates 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 business earned $0.26 EPS. Research analysts anticipate that PG&E Co. will post 1.35 EPS for the current year.

PG&E Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date of this dividend was Wednesday, March 27th. PG&E’s dividend payout ratio is 3.81%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of PG&E from $18.00 to $19.00 and gave the stock a “neutral” rating in a research report on Tuesday. The Goldman Sachs Group assumed coverage on shares of PG&E in a research report on Wednesday, April 10th. They issued a “buy” rating and a $21.00 target price for the company. StockNews.com upgraded shares of PG&E from a “sell” rating to a “hold” rating in a research report on Thursday, February 1st. Finally, Barclays cut their price target 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. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, PG&E currently has a consensus rating of “Moderate Buy” and a consensus price target of $18.89.

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.