Artemis Investment Management LLP Sells 153,655 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Artemis Investment Management LLP trimmed its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 3.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,361,914 shares of the utilities provider's stock after selling 153,655 shares during the quarter. Pacific Gas & Electric makes up about 1.1% of Artemis Investment Management LLP's investment portfolio, making the stock its 23rd largest holding. Artemis Investment Management LLP owned approximately 0.16% of Pacific Gas & Electric worth $74,938,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. True Wealth Design LLC raised its holdings 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 valued at $37,000 after buying an additional 1,690 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of Pacific Gas & Electric by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after acquiring an additional 1,627 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Pacific Gas & Electric by 124.9% in the 1st quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 1,927 shares in the last quarter. Optiver Holding B.V. lifted its holdings in Pacific Gas & Electric by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after purchasing an additional 825 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB boosted its position in Pacific Gas & Electric by 30.2% during the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider's stock worth $89,000 after purchasing an additional 1,203 shares during the period. Institutional investors own 78.56% of the company's stock.

Insider Activity

In other Pacific Gas & Electric 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 transaction of $562,578.70. Following the completion of the transaction, the executive vice president now owns 151,116 shares in the company, valued at $2,614,306.80. This trade represents 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 this link. 0.14% of the stock is owned by company insiders.

Pacific Gas & Electric Stock Performance

Pacific Gas & Electric stock traded down $0.11 during trading hours on Friday, hitting $13.98. The stock had a trading volume of 31,193,948 shares, compared to its average volume of 18,250,946. The company has a 50-day moving average of $16.13 and a two-hundred day moving average of $16.83. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.79. Pacific Gas & Electric Co. has a fifty-two week low of $13.34 and a fifty-two week high of $21.72. The company has a market cap of $37.39 billion, a PE ratio of 12.82, a price-to-earnings-growth ratio of 0.98 and a beta of 0.60.

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). The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.37 earnings per share. On average, equities research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.72%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric's payout ratio is 9.17%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PCG. Mizuho lifted their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Guggenheim lifted their target price on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Evercore ISI upped 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. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Finally, Barclays decreased their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Pacific Gas & Electric 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.