Pacific Gas & Electric Co. (NYSE:PCG) Holdings Boosted by Arizona State Retirement System

Arizona State Retirement System lifted its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.6% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 634,329 shares of the utilities provider's stock after buying an additional 44,540 shares during the quarter. Arizona State Retirement System's holdings in Pacific Gas & Electric were worth $10,898,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PCG. True Wealth Design LLC boosted its position in Pacific Gas & Electric by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock worth $37,000 after purchasing an additional 1,690 shares in the last quarter. Deseret Mutual Benefit Administrators boosted its stake in shares of Pacific Gas & Electric by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after acquiring an additional 674 shares during the last quarter. Colonial Trust Co SC boosted its stake in shares of Pacific Gas & Electric by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after acquiring an additional 1,627 shares during the last quarter. Versant Capital Management Inc boosted its stake in shares of Pacific Gas & Electric by 124.9% in the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock worth $60,000 after acquiring an additional 1,927 shares during the last quarter. Finally, Golden State Wealth Management LLC raised its position in shares of Pacific Gas & Electric by 431.2% in the first quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock valued at $60,000 after buying an additional 2,816 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,519 shares of the business's 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 sale, the executive vice president owned 151,116 shares of the company's stock, valued at $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.14% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCG. Guggenheim upped their target price on Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Barclays decreased 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. BMO Capital Markets cut their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating on the stock in a research report on Monday, April 14th. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Pacific Gas & Electric currently has an average rating of "Moderate Buy" and an average target price of $20.73.

Pacific Gas & Electric Stock Down 0.1%

NYSE PCG traded down $0.02 during trading hours on Thursday, hitting $13.15. The company had a trading volume of 3,532,274 shares, compared to its average volume of 18,775,190. The firm's 50 day moving average is $15.22 and its 200 day moving average is $16.28. 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 has a market capitalization of $35.17 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 0.92 and a beta of 0.55. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its earnings results 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 during the quarter, compared to analyst estimates of $6.23 billion. During the same quarter in the previous year, the firm earned $0.37 earnings per share. The business's revenue was up 2.1% on a year-over-year basis. Sell-side 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 firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.025 per share. The ex-dividend date was Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.76%. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 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.