Mizuho Securities USA LLC Sells 26,174 Shares of PG&E Co. (NYSE:PCG)

Mizuho Securities USA LLC lowered its stake in shares of PG&E Co. (NYSE:PCG - Free Report) by 15.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 138,603 shares of the utilities provider's stock after selling 26,174 shares during the quarter. Mizuho Securities USA LLC's holdings in PG&E were worth $2,740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Axxcess Wealth Management LLC increased its position in PG&E by 3.5% during the first quarter. Axxcess Wealth Management LLC now owns 18,217 shares of the utilities provider's stock worth $305,000 after acquiring an additional 614 shares during the period. Ballentine Partners LLC increased its position in PG&E by 3.1% during the second quarter. Ballentine Partners LLC now owns 22,458 shares of the utilities provider's stock worth $392,000 after acquiring an additional 666 shares during the period. Commerce Bank increased its position in PG&E by 1.5% during the third quarter. Commerce Bank now owns 47,051 shares of the utilities provider's stock worth $930,000 after acquiring an additional 712 shares during the period. Alta Advisers Ltd increased its position in PG&E by 19.5% during the second quarter. Alta Advisers Ltd now owns 4,900 shares of the utilities provider's stock worth $86,000 after acquiring an additional 800 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in PG&E by 14.5% during the second quarter. EverSource Wealth Advisors LLC now owns 6,830 shares of the utilities provider's stock worth $125,000 after buying an additional 863 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Wall Street Analysts Forecast Growth

PCG has been the topic of a number of recent research reports. Barclays lifted their price target on shares of PG&E from $24.00 to $25.00 and gave the stock an "overweight" rating in a research note on Monday, October 21st. UBS Group boosted their target price on shares of PG&E from $24.00 to $26.00 and gave the company a "buy" rating in a research note on Tuesday, September 3rd. Wells Fargo & Company boosted their target price on shares of PG&E from $21.00 to $22.00 and gave the company an "overweight" rating in a research note on Friday, July 26th. Morgan Stanley boosted their target price on shares of PG&E from $19.00 to $20.00 and gave the company an "equal weight" rating in a research note on Wednesday, September 25th. Finally, Bank of America started coverage on shares of PG&E in a research note on Thursday, September 12th. They issued a "buy" rating and a $24.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.80.

PG&E Price Performance

NYSE PCG traded up $0.14 on Friday, hitting $21.37. 12,130,795 shares of the company were exchanged, compared to its average volume of 12,145,466. The firm has a 50 day moving average of $20.27 and a two-hundred day moving average of $19.00. The company has a market cap of $55.89 billion, a P/E ratio of 16.68, a P/E/G ratio of 1.63 and a beta of 1.03. The company has a current ratio of 1.04, a quick ratio of 0.99 and a debt-to-equity ratio of 2.02. PG&E Co. has a 1-year low of $15.94 and a 1-year high of $21.51.

PG&E (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.32 by $0.05. The business had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $6.58 billion. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The firm's quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.24 EPS. On average, equities analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.04 annualized dividend and a yield of 0.19%. PG&E's dividend payout ratio is currently 3.13%.

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.