Mizuho Securities USA LLC Acquires Shares of 22,169 PG&E Co. (PCG)

Mizuho Securities USA LLC acquired a new position in shares of PG&E Co. (NYSE:PCG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 22,169 shares of the utilities provider’s stock, valued at approximately $1,020,000.

Other institutional investors and hedge funds have also modified their holdings of the company. NEXT Financial Group Inc purchased a new stake in PG&E in the 3rd quarter worth approximately $104,000. Summit Trail Advisors LLC grew its stake in PG&E by 5,047.8% in the 1st quarter. Summit Trail Advisors LLC now owns 107,588 shares of the utilities provider’s stock worth $108,000 after acquiring an additional 105,498 shares during the period. CenterStar Asset Management LLC grew its stake in PG&E by 201.2% in the 2nd quarter. CenterStar Asset Management LLC now owns 2,980 shares of the utilities provider’s stock worth $127,000 after acquiring an additional 5,924 shares during the period. Gradient Investments LLC purchased a new stake in PG&E in the 2nd quarter worth approximately $146,000. Finally, Cerebellum GP LLC purchased a new stake in PG&E in the 2nd quarter worth approximately $176,000. 81.44% of the stock is owned by institutional investors and hedge funds.

Shares of PCG traded down $0.72 during mid-day trading on Thursday, reaching $48.24. The company had a trading volume of 3,981,600 shares, compared to its average volume of 5,578,019. The firm has a market cap of $23.79 billion, a PE ratio of 13.28, a price-to-earnings-growth ratio of 3.47 and a beta of -0.07. PG&E Co. has a fifty-two week low of $37.30 and a fifty-two week high of $58.38. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 0.92.

PG&E (NYSE:PCG) last announced its quarterly earnings results on Thursday, July 26th. The utilities provider reported $1.16 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.94 by $0.22. The company had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.32 billion. PG&E had a net margin of 0.80% and a return on equity of 10.20%. PG&E’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business earned $0.86 EPS. As a group, equities research analysts anticipate that PG&E Co. will post 3.79 earnings per share for the current year.

Several analysts have commented on the stock. Guggenheim raised shares of PG&E from a “sell” rating to a “neutral” rating in a research note on Wednesday, August 29th. Morgan Stanley lifted their target price on shares of PG&E from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Tuesday, September 11th. Evercore ISI raised shares of PG&E from an “in-line” rating to an “outperform” rating and lifted their target price for the stock from $50.00 to $52.00 in a research note on Tuesday, September 4th. Bank of America raised shares of PG&E from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $48.00 to $56.00 in a research note on Tuesday, September 4th. Finally, Wells Fargo & Co raised shares of PG&E from a “market perform” rating to an “outperform” rating in a research note on Monday, August 6th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company. PG&E has a consensus rating of “Hold” and a consensus target price of $51.51.

In other PG&E news, COO Nickolas Stavropoulos sold 1,161 shares of PG&E stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $44.79, for a total value of $52,001.19. Following the transaction, the chief operating officer now owns 78,223 shares in the company, valued at approximately $3,503,608.17. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.14% of the stock is owned by company insiders.

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 residential, commercial, industrial, and agricultural customers in northern and central California, the United States. The company's electricity distribution network consists of approximately 107,200 circuit miles of distribution lines, 59 transmission switching substations, and 605 distribution substations; and electricity transmission network comprises approximately 19,200 circuit miles of interconnected transmission lines and 92 electric transmission substations.

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Institutional Ownership by Quarter for PG&E (NYSE:PCG)

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