Asset Management One Co. Ltd. Has $16.37 Million Stake in Pacific Gas & Electric Co. (NYSE:PCG)

Asset Management One Co. Ltd. increased its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 16.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 952,849 shares of the utilities provider's stock after acquiring an additional 136,287 shares during the period. Asset Management One Co. Ltd.'s holdings in Pacific Gas & Electric were worth $16,370,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Ausbil Investment Management Ltd lifted its stake in Pacific Gas & Electric by 21.5% in the 1st quarter. Ausbil Investment Management Ltd now owns 285,824 shares of the utilities provider's stock worth $4,910,000 after acquiring an additional 50,591 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in Pacific Gas & Electric by 55.6% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after acquiring an additional 27,832 shares in the last quarter. Avantra Family Wealth Inc. lifted its stake in Pacific Gas & Electric by 15.9% in the 1st quarter. Avantra Family Wealth Inc. now owns 23,624 shares of the utilities provider's stock worth $406,000 after acquiring an additional 3,234 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund lifted its stake in Pacific Gas & Electric by 299.1% in the 1st quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 63,494 shares of the utilities provider's stock worth $1,091,000 after acquiring an additional 47,583 shares in the last quarter. Finally, Chico Wealth RIA lifted its stake in Pacific Gas & Electric by 14.7% in the 1st quarter. Chico Wealth RIA now owns 30,815 shares of the utilities provider's stock worth $529,000 after acquiring an additional 3,957 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Performance

NYSE PCG traded down $0.11 during trading on Friday, hitting $13.98. The company's stock had a trading volume of 31,193,948 shares, compared to its average volume of 18,277,924. Pacific Gas & Electric Co. has a 52 week low of $13.34 and a 52 week high of $21.72. The firm has a market cap of $37.39 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 1.00 and a beta of 0.60. The firm has a 50 day moving average price of $16.13 and a 200 day moving average price 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 (NYSE:PCG - Get Free Report) last announced 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 analyst estimates of $6.23 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm's quarterly revenue was up 2.1% on a year-over-year basis. Equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be given a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.72%. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In other news, EVP Carla J. Peterman sold 32,519 shares of Pacific Gas & Electric stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares of the company's stock, 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 Securities & Exchange Commission, which is accessible through this hyperlink. 0.14% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PCG shares. Jefferies Financial Group increased their price objective on Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a research note on Wednesday, April 23rd. 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 research note on Monday, April 14th. Wells Fargo & Company reaffirmed an "overweight" rating and set a $24.00 price target on shares of Pacific Gas & Electric in a research note on Friday, April 25th. Guggenheim raised their price target on Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. 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 research note on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $20.73.

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.