57,000 Shares in Pacific Gas & Electric Co. (NYSE:PCG) Purchased by American Assets Inc.

Key Points

• American Assets Inc. has invested approximately $979,000 in Pacific Gas & Electric Co., acquiring 57,000 shares and making it the 9th largest holding in their portfolio.
• The stock opened at $15.06 and has experienced a one-year low of $12.97 and a high of $21.72, with a market cap of $40.29 billion.
• Pacific Gas & Electric recently reported quarterly earnings, missing the consensus estimate with $0.31 earnings per share and a revenue of $5.90 billion, down 1.5% from last year.

American Assets Inc. bought a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 57,000 shares of the utilities provider's stock, valued at approximately $979,000. Pacific Gas & Electric makes up approximately 0.3% of American Assets Inc.'s portfolio, making the stock its 9th largest position.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Costello Asset Management INC acquired a new position in Pacific Gas & Electric in the 1st quarter worth $31,000. True Wealth Design LLC lifted its holdings in shares of Pacific Gas & Electric by 1,233.6% in the fourth 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 in the last quarter. Colonial Trust Co SC boosted its position in shares of Pacific Gas & Electric by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after buying an additional 1,627 shares during the period. Deseret Mutual Benefit Administrators grew its holdings in shares of Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after buying an additional 674 shares in the last quarter. Finally, Larson Financial Group LLC raised its position 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 buying an additional 2,027 shares during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PCG shares. BMO Capital Markets decreased their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group boosted their price target on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Barclays lowered their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a research report on Tuesday, July 22nd. Guggenheim increased their price target on Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. Finally, Wells Fargo & Company reaffirmed an "overweight" rating and set a $24.00 price target on shares of Pacific Gas & Electric in a research report on Friday, April 25th. One equities research 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's stock. According to MarketBeat, Pacific Gas & Electric presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

Pacific Gas & Electric Stock Performance

NYSE:PCG traded down $0.06 during mid-day trading on Thursday, reaching $15.08. 20,545,465 shares of the company's stock were exchanged, compared to its average volume of 26,856,956. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The business's fifty day simple moving average is $14.23 and its two-hundred day simple moving average is $15.79. The firm has a market capitalization of $40.33 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 1.13 and a beta of 0.54.

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

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.7%. Pacific Gas & Electric's payout ratio is currently 9.17%.

Pacific Gas & Electric Company 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.