Duff & Phelps Investment Management Co. Cuts Position in PG&E Co. (NYSE:PCG)

Duff & Phelps Investment Management Co. lowered its position in PG&E Co. (NYSE:PCG - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,849,700 shares of the utilities provider's stock after selling 196,000 shares during the period. Duff & Phelps Investment Management Co. owned about 0.11% of PG&E worth $51,380,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PCG. Raymond James Trust N.A. raised its holdings in PG&E by 4.2% in the 4th quarter. Raymond James Trust N.A. now owns 17,013 shares of the utilities provider's stock worth $307,000 after purchasing an additional 680 shares during the period. Bleakley Financial Group LLC raised its stake in shares of PG&E by 1.5% during the 4th quarter. Bleakley Financial Group LLC now owns 45,332 shares of the utilities provider's stock worth $817,000 after buying an additional 691 shares during the period. Signaturefd LLC raised its stake in shares of PG&E by 10.9% during the 3rd quarter. Signaturefd LLC now owns 8,067 shares of the utilities provider's stock worth $130,000 after buying an additional 794 shares during the period. Glenmede Trust Co. NA lifted its position in shares of PG&E by 5.5% during the 3rd quarter. Glenmede Trust Co. NA now owns 15,982 shares of the utilities provider's stock valued at $258,000 after buying an additional 835 shares in the last quarter. Finally, Caprock Group LLC grew its stake in PG&E by 5.1% in the 4th quarter. Caprock Group LLC now owns 20,496 shares of the utilities provider's stock valued at $370,000 after acquiring an additional 999 shares during the period. 78.56% of the stock is owned by hedge funds and other institutional investors.

PG&E Trading Down 0.9 %

PG&E stock traded down $0.15 during trading on Tuesday, reaching $17.11. 10,614,577 shares of the company were exchanged, compared to its average volume of 15,488,372. The stock's 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $16.91. The company has a market capitalization of $36.56 billion, a P/E ratio of 15.41 and a beta of 1.32. The company has a debt-to-equity ratio of 2.08, a current ratio of 0.99 and a quick ratio of 0.93. PG&E Co. has a 52-week low of $14.71 and a 52-week high of $18.32.

PG&E (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The utilities provider reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. PG&E had a return on equity of 11.32% and a net margin of 10.05%. The business had revenue of $5.86 billion for the quarter, compared to analyst estimates of $6.60 billion. During the same quarter in the previous year, the firm earned $0.29 EPS. The company's quarterly revenue was down 5.6% compared to the same quarter last year. On average, equities research analysts expect that PG&E Co. will post 1.35 earnings per share for the current fiscal year.

PG&E Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.23%. The ex-dividend date was Wednesday, March 27th. PG&E's dividend payout ratio is presently 3.57%.

Wall Street Analyst Weigh In

A number of research firms have weighed in on PCG. JPMorgan Chase & Co. upped their price objective on shares of PG&E from $18.00 to $19.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 23rd. The Goldman Sachs Group started coverage on shares of PG&E in a research note on Wednesday, April 10th. They issued a "buy" rating and a $21.00 price target on the stock. StockNews.com upgraded PG&E from a "sell" rating to a "hold" rating in a research note on Thursday, February 1st. Finally, Barclays raised their target price on PG&E from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Friday. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $19.11.

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.