Cerity Partners LLC Has $20.69 Million Stock Holdings in Pacific Gas & Electric Co. (NYSE:PCG)

Cerity Partners LLC raised its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 16.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,204,471 shares of the utilities provider's stock after purchasing an additional 165,845 shares during the period. Cerity Partners LLC's holdings in Pacific Gas & Electric were worth $20,693,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Deseret Mutual Benefit Administrators raised its holdings in Pacific Gas & Electric by 45.0% during 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. Level Four Advisory Services LLC increased its position in shares of Pacific Gas & Electric by 7.5% during the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock worth $223,000 after buying an additional 772 shares during the period. Farther Finance Advisors LLC increased its position in shares of Pacific Gas & Electric by 1.9% during the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after buying an additional 785 shares during the period. Optiver Holding B.V. raised its stake in Pacific Gas & Electric by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after buying an additional 825 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in Pacific Gas & Electric by 2.4% in the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock valued at $664,000 after buying an additional 887 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Insider Transactions at Pacific Gas & Electric

In other news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred 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 directly owned 151,116 shares of the company's stock, valued at $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.14% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on PCG shares. Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. UBS Group cut Pacific Gas & Electric from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $22.00 to $19.00 in a research note on Wednesday, March 19th. BMO Capital Markets lowered their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Finally, Evercore ISI raised their price objective on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Pacific Gas & Electric presently has a consensus rating of "Moderate Buy" and an average price target of $20.73.

Pacific Gas & Electric Trading Down 1.0%

NYSE PCG opened at $13.41 on Friday. Pacific Gas & Electric Co. has a 52 week low of $13.34 and a 52 week high of $21.72. The business has a 50 day moving average price of $15.46 and a 200-day moving average price of $16.39. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.79. The company has a market cap of $35.88 billion, a price-to-earnings ratio of 12.30, a P/E/G ratio of 0.95 and a beta of 0.55.

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). Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter last year, the firm posted $0.37 EPS. The business's revenue for the quarter was up 2.1% compared to the same quarter last year. As a group, equities 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 business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 0.75%. Pacific Gas & Electric's dividend payout ratio (DPR) is currently 9.17%.

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.

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