AIA Group Ltd Purchases Shares of 58,738 Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• AIA Group Ltd purchased 58,738 shares of Pacific Gas & Electric Co. for approximately $1,009,000 during Q1, contributing to growing institutional interest in the company.
• Pacific Gas & Electric's latest quarterly earnings report revealed an EPS of $0.31, falling short of analyst estimates, with revenue declining 1.5% year-over-year.
• The company's recent dividend declaration includes a payout of $0.025 per share, representing an annualized yield of 0.7%.

AIA Group Ltd acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,738 shares of the utilities provider's stock, valued at approximately $1,009,000.

Other large investors also recently modified their holdings of the company. Costello Asset Management INC acquired a new stake in Pacific Gas & Electric in the 1st quarter valued at about $31,000. True Wealth Design LLC lifted its stake in Pacific Gas & Electric by 1,233.6% in the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 1,690 shares during the last quarter. Deseret Mutual Benefit Administrators lifted its stake in Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 674 shares during the last quarter. Colonial Trust Co SC lifted its stake in Pacific Gas & Electric by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after purchasing an additional 1,627 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in Pacific Gas & Electric by 198.1% in the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 2,027 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on PCG shares. Mizuho increased their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Guggenheim increased their price target on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Barclays lowered their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Evercore ISI increased their price target on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. Finally, Wells Fargo & Company reissued an "overweight" rating and issued a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Pacific Gas & Electric presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

Pacific Gas & Electric Price Performance

Pacific Gas & Electric stock traded up $0.07 during mid-day trading on Thursday, reaching $15.32. The company had a trading volume of 17,524,219 shares, compared to its average volume of 23,552,867. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The company has a market cap of $40.99 billion, a P/E ratio of 14.05, a P/E/G ratio of 1.15 and a beta of 0.54. The business has a fifty day simple moving average of $14.11 and a 200 day simple moving average of $15.74.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The business had revenue of $5.90 billion for the quarter, compared to analyst estimates of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%. Pacific Gas & Electric's revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 EPS. On average, equities research analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric's dividend payout ratio (DPR) is currently 9.17%.

Pacific Gas & Electric Profile

PG&E Corp. operates as a holding company, which engages in generation, transmission, and distribution of electricity and natural gas to customers. It specializes in energy, utility, power, gas, electricity, solar and sustainability. The company was founded in 1995 and is headquartered in Oakland, CA.