Assetmark Inc. Buys 30,438 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Assetmark Inc. raised its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 33.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,313 shares of the utilities provider's stock after purchasing an additional 30,438 shares during the quarter. Assetmark Inc.'s holdings in Pacific Gas & Electric were worth $2,101,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in PCG. True Wealth Design LLC raised its position in Pacific Gas & Electric by 1,233.6% in the 4th 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 during the last quarter. Deseret Mutual Benefit Administrators raised its position in Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after purchasing an additional 674 shares during the last quarter. Colonial Trust Co SC raised its position in Pacific Gas & Electric by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares during the last quarter. Larson Financial Group LLC raised its position in shares of Pacific Gas & Electric by 198.1% during the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 2,027 shares during the last quarter. Finally, Versant Capital Management Inc raised its position in shares of Pacific Gas & Electric by 124.9% during 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 during the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Up 0.8%

Shares of Pacific Gas & Electric stock traded up $0.11 during trading hours on Friday, reaching $14.13. 27,502,809 shares of the company's stock were exchanged, compared to its average volume of 22,902,908. The company has a 50 day moving average of $14.44 and a two-hundred day moving average of $15.85. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week 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 cap of $37.80 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.04 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). Pacific Gas & Electric had a return on equity of 10.26% 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 prior year, the company earned $0.31 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. On average, sell-side analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS 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. Investors 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 yield of 0.7%. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analyst Weigh In

PCG has been the subject of several recent research reports. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Barclays dropped their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Guggenheim upped their target price on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. 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 report on Monday, April 14th. Finally, Mizuho boosted their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. 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 company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

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.