Ceredex Value Advisors LLC Invests $37.79 Million in PG&E Co. (NYSE:PCG)

Ceredex Value Advisors LLC bought a new position in shares of PG&E Co. (NYSE:PCG - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,094,600 shares of the utilities provider's stock, valued at approximately $37,787,000. Ceredex Value Advisors LLC owned 0.08% of PG&E as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of PCG. Vanguard Group Inc. raised its holdings in shares of PG&E by 8.8% during the third quarter. Vanguard Group Inc. now owns 268,407,694 shares of the utilities provider's stock worth $4,329,416,000 after purchasing an additional 21,731,911 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of PG&E by 43.6% in the 1st quarter. JPMorgan Chase & Co. now owns 62,502,105 shares of the utilities provider's stock worth $1,010,660,000 after acquiring an additional 18,984,092 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of PG&E by 27.8% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 83,522,320 shares of the utilities provider's stock worth $1,347,215,000 after acquiring an additional 18,180,432 shares during the period. BlackRock Inc. increased its holdings in shares of PG&E by 12.8% in the 1st quarter. BlackRock Inc. now owns 134,314,990 shares of the utilities provider's stock worth $2,171,873,000 after acquiring an additional 15,210,198 shares during the period. Finally, Norges Bank acquired a new stake in shares of PG&E in the 4th quarter worth about $184,847,000. 78.56% of the stock is owned by institutional investors and hedge funds.

PG&E Price Performance

PCG traded up $0.24 on Friday, reaching $16.81. The company had a trading volume of 14,079,526 shares, compared to its average volume of 13,789,867. The company has a fifty day moving average of $16.53 and a 200-day moving average of $16.84. The company has a market capitalization of $43.90 billion, a P/E ratio of 16.01, a PEG ratio of 4.97 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 one year low of $14.71 and a one year high of $18.32.

PG&E (NYSE:PCG - Get Free Report) last announced its 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 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 prior year, the firm posted $0.26 EPS. As a group, equities research analysts anticipate that PG&E Co. will post 1.35 earnings per share for the current year.

PG&E Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.04 annualized dividend and a dividend yield of 0.24%. PG&E's dividend payout ratio (DPR) is 3.81%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Barclays dropped their price objective 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. StockNews.com raised shares of PG&E from a "sell" rating to a "hold" rating in a report on Thursday, February 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PG&E presently has a consensus rating of "Hold" and an average price target of $18.50.

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.