Commerzbank Aktiengesellschaft FI Purchases 19,780 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Commerzbank Aktiengesellschaft FI increased its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 141.4% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 33,768 shares of the utilities provider's stock after purchasing an additional 19,780 shares during the quarter. Commerzbank Aktiengesellschaft FI's holdings in Pacific Gas & Electric were worth $581,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Pacific Gas & Electric by 2.5% in the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock valued at $5,132,964,000 after acquiring an additional 6,151,233 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Pacific Gas & Electric by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock worth $1,046,462,000 after buying an additional 2,151,494 shares during the last quarter. Capital Research Global Investors lifted its holdings in shares of Pacific Gas & Electric by 70.3% in the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock valued at $944,540,000 after purchasing an additional 19,317,171 shares during the last quarter. Norges Bank acquired a new position in Pacific Gas & Electric in the 4th quarter valued at about $591,625,000. Finally, Northern Trust Corp grew its holdings in shares of Pacific Gas & Electric by 6.8% in the 4th quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock worth $385,962,000 after acquiring an additional 1,214,394 shares during the period. Institutional investors own 78.56% of the company's stock.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction dated 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. The trade was a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.14% of the stock is owned by insiders.

Analysts Set New Price Targets

PCG has been the subject of several recent analyst reports. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Morgan Stanley set a $18.00 price target on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Evercore ISI boosted 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 research report on Monday, April 28th. Guggenheim boosted their target price on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. Finally, Barclays dropped their price objective 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 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 company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $20.73.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG opened at $13.43 on Friday. The stock has a 50 day moving average price of $15.07 and a 200 day moving average price of $16.18. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week 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 market capitalization of $35.93 billion, a PE ratio of 12.32, a price-to-earnings-growth ratio of 0.99 and a beta of 0.55.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. Pacific Gas & Electric's revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter last year, the business posted $0.37 EPS. Analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric's payout ratio is 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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