Caas Capital Management LP Takes Position in Pacific Gas & Electric Co. (NYSE:PCG)

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

Several other hedge funds and other institutional investors also recently made changes to their positions in PCG. True Wealth Design LLC lifted 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 valued at $37,000 after acquiring an additional 1,690 shares in the last quarter. Colonial Trust Co SC increased its stake 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 buying an additional 1,627 shares in the last quarter. Deseret Mutual Benefit Administrators grew its position in shares of Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 674 shares in the last quarter. Golden State Wealth Management LLC grew its position in Pacific Gas & Electric by 431.2% in the first quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock worth $60,000 after acquiring an additional 2,816 shares in the last quarter. Finally, Versant Capital Management Inc lifted 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 purchasing an additional 1,927 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Down 0.3%

NYSE:PCG traded down $0.04 during trading hours on Monday, reaching $13.38. The company's stock had a trading volume of 30,012,867 shares, compared to its average volume of 18,716,987. The company has a market capitalization of $35.81 billion, a P/E ratio of 12.28, a price-to-earnings-growth ratio of 0.95 and a beta of 0.55. Pacific Gas & Electric Co. has a 12 month low of $13.21 and a 12 month high of $21.72. 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 50 day moving average price of $15.46 and a two-hundred day moving average price of $16.37.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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 return on equity of 10.35% and a net margin of 9.81%. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period last year, the firm earned $0.37 EPS. The business's quarterly revenue was up 2.1% on a year-over-year basis. Equities analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

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

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of Pacific Gas & Electric stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the transaction, the executive vice president directly owned 151,116 shares of the company's stock, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Barclays decreased their price objective on shares of 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. Morgan Stanley set a $18.00 price objective on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Mizuho raised their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Guggenheim raised their price objective on shares of 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, Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. One 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's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.73.

About Pacific Gas & Electric

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.