Banque Cantonale Vaudoise Makes New Investment in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Banque Cantonale Vaudoise has established a new position in Pacific Gas & Electric Co., acquiring 29,864 shares valued at approximately $512,000.
• Institutional investors now hold 78.56% of Pacific Gas & Electric's stock, with significant increases in stakes from firms like Cambridge Investment Research Advisors and GAMMA Investing.
• The company's latest earnings report showed a missed estimate for earnings per share, revealing $0.31 compared to a consensus of $0.33, alongside a year-over-year revenue decline of 1.5%.

Banque Cantonale Vaudoise bought a new position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 29,864 shares of the utilities provider's stock, valued at approximately $512,000.

A number of other hedge funds also recently made changes to their positions in PCG. Orion Portfolio Solutions LLC raised its holdings in Pacific Gas & Electric by 14.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,503 shares of the utilities provider's stock worth $333,000 after purchasing an additional 2,085 shares in the last quarter. Schroder Investment Management Group boosted its stake in Pacific Gas & Electric by 1.7% during the fourth quarter. Schroder Investment Management Group now owns 204,525 shares of the utilities provider's stock valued at $4,127,000 after buying an additional 3,346 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in Pacific Gas & Electric by 28.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,969 shares of the utilities provider's stock worth $134,000 after acquiring an additional 1,538 shares during the period. O Shaughnessy Asset Management LLC raised its position in Pacific Gas & Electric by 18.2% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 74,164 shares of the utilities provider's stock worth $1,497,000 after acquiring an additional 11,411 shares in the last quarter. Finally, Huntington National Bank lifted its holdings in Pacific Gas & Electric by 24.9% in the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock valued at $122,000 after acquiring an additional 1,205 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Up 6.7%

PCG stock traded up $0.94 during mid-day trading on Monday, hitting $15.06. The stock had a trading volume of 52,246,839 shares, compared to its average volume of 24,278,308. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The company has a fifty day moving average of $14.34 and a 200 day moving average of $15.81. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $40.29 billion, a price-to-earnings ratio of 13.82, a PEG ratio of 1.05 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the previous year, the business posted $0.31 EPS. Pacific Gas & Electric's revenue was down 1.5% compared to the same quarter last year. On average, equities analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

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

Wall Street Analyst Weigh In

A number of analysts recently commented on PCG shares. Morgan Stanley set a $18.00 target price on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Guggenheim raised their price objective 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. Jefferies Financial Group upped their target price on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Evercore ISI raised their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. Finally, Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. One 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 has a consensus rating of "Moderate Buy" and a consensus target price of $20.55.

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.