Pacific Gas & Electric Co. (NYSE:PCG) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 90.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,671 shares of the utilities provider's stock after selling 990,277 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Pacific Gas & Electric were worth $1,739,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Cambridge Investment Research Advisors Inc. grew its position in shares of Pacific Gas & Electric by 55.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after purchasing an additional 27,832 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Pacific Gas & Electric by 738.7% during the first quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock worth $3,024,000 after purchasing an additional 155,052 shares in the last quarter. Blue Trust Inc. grew its position in shares of Pacific Gas & Electric by 38.1% during the first quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock worth $91,000 after purchasing an additional 1,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Pacific Gas & Electric by 138.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock worth $4,373,000 after purchasing an additional 147,964 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Pacific Gas & Electric by 14.5% during the fourth quarter. Cetera Investment Advisers now owns 101,240 shares of the utilities provider's stock worth $2,043,000 after purchasing an additional 12,847 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Insider Activity at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the transaction, the executive vice president owned 151,116 shares of the company's stock, valued at $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.14% of the stock is owned by insiders.

Pacific Gas & Electric Price Performance

NYSE PCG traded down $0.13 during trading hours on Friday, reaching $13.41. The company's stock had a trading volume of 18,758,695 shares, compared to its average volume of 18,623,348. The firm has a market capitalization of $35.88 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.96 and a beta of 0.55. Pacific Gas & Electric Co. has a 1-year low of $13.34 and a 1-year high of $21.72. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.90. The company's 50-day moving average is $15.53 and its two-hundred day moving average is $16.47.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.37 EPS. On average, equities analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.75%. Pacific Gas & Electric's payout ratio is currently 9.17%.

Analyst Ratings Changes

Several equities analysts have weighed in on PCG shares. Evercore ISI raised their price target on Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a report on Monday, April 28th. Wells Fargo & Company restated an "overweight" rating and set a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. BMO Capital Markets cut their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Finally, Barclays cut their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, Pacific Gas & Electric currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.73.

About Pacific Gas & Electric

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.