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

Allspring Global Investments Holdings LLC decreased its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 90.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 100,671 shares of the utilities provider's stock after selling 990,277 shares during the period. Allspring Global Investments Holdings LLC's holdings in Pacific Gas & Electric were worth $1,739,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Norges Bank acquired a new stake in shares of Pacific Gas & Electric in the fourth quarter worth $591,625,000. Capital Research Global Investors boosted its position in shares of Pacific Gas & Electric by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after buying an additional 19,317,171 shares during the period. Vanguard Group Inc. boosted its position in shares of Pacific Gas & Electric by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after buying an additional 6,151,233 shares during the period. Zimmer Partners LP grew its stake in shares of Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock valued at $255,506,000 after buying an additional 5,814,624 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp raised its holdings in shares of Pacific Gas & Electric by 244.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider's stock valued at $95,066,000 after buying an additional 3,340,599 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Stock Down 1.2%

NYSE PCG traded down $0.16 during trading hours on Wednesday, reaching $13.51. 28,091,098 shares of the company traded hands, compared to its average volume of 18,579,249. Pacific Gas & Electric Co. has a 12 month low of $13.34 and a 12 month high of $21.72. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $36.15 billion, a PE ratio of 12.39, a PEG ratio of 0.96 and a beta of 0.55. The company has a 50 day moving average of $15.59 and a two-hundred day moving average of $16.51.

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

Pacific Gas & Electric Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.025 dividend. 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 0.74%. Pacific Gas & Electric's payout ratio is currently 9.17%.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the transaction, the executive vice president directly owned 151,116 shares in the company, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PCG shares. Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Evercore ISI raised 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. UBS Group downgraded shares of Pacific Gas & Electric from a "buy" rating to a "neutral" rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. Wells Fargo & Company reissued an "overweight" rating and issued a $24.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Finally, Barclays dropped their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating on the stock in a research 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 stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $20.73.

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.