122,000 Shares in Pacific Gas & Electric Co. (NYSE:PCG) Acquired by Caas Capital Management LP

Caas Capital Management LP acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 122,000 shares of the utilities provider's stock, valued at approximately $2,096,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Pacific Gas & Electric during the fourth quarter worth about $591,625,000. Capital Research Global Investors increased its position in shares of Pacific Gas & Electric by 70.3% during the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after acquiring an additional 19,317,171 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Pacific Gas & Electric by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after acquiring an additional 6,151,233 shares in the last quarter. Zimmer Partners LP increased its position in shares of Pacific Gas & Electric by 84.9% during the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock worth $255,506,000 after acquiring an additional 5,814,624 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Pacific Gas & Electric by 244.5% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider's stock worth $95,066,000 after acquiring an additional 3,340,599 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Performance

PCG traded down $0.13 during midday trading on Friday, reaching $13.41. The company had a trading volume of 18,758,695 shares, compared to its average volume of 18,653,606. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95. The stock has a market cap of $35.88 billion, a PE ratio of 12.30, a P/E/G ratio of 0.96 and a beta of 0.55. Pacific Gas & Electric Co. has a 12-month low of $13.34 and a 12-month high of $21.72. The business has a 50-day moving average price of $15.46 and a two-hundred day moving average price of $16.42.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly 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 business had revenue of $5.98 billion for the quarter, compared to analysts' expectations 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 quarterly revenue 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, sell-side analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.75%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric's payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. BMO Capital Markets cut their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Evercore ISI boosted their price target 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. Jefferies Financial Group boosted their price target on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. Finally, Barclays cut their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Pacific Gas & Electric has a consensus rating of "Moderate Buy" and an average price target of $20.73.

Insider Activity at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the company's stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the sale, the executive vice president directly owned 151,116 shares in the company, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.14% of the company's stock.

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.