Eagle Global Advisors LLC Has $10.32 Million Holdings in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Eagle Global Advisors LLC increased its stake in Pacific Gas & Electric by 9.7% during the first quarter, acquiring an additional 53,370 shares, bringing its total holdings to 600,767 shares valued at approximately $10.3 million.
• Pacific Gas & Electric reported $0.31 earnings per share for the quarter, which was below analysts' expectations of $0.33, with quarterly revenue down 1.5% year-over-year.
• The company announced a quarterly dividend of $0.025 per share, representing a 0.7% dividend yield and a payout ratio of 9.17%.

Eagle Global Advisors LLC grew its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 9.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 600,767 shares of the utilities provider's stock after purchasing an additional 53,370 shares during the quarter. Eagle Global Advisors LLC's holdings in Pacific Gas & Electric were worth $10,321,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PCG. Costello Asset Management INC acquired a new stake in Pacific Gas & Electric during the first quarter worth approximately $31,000. True Wealth Design LLC boosted its holdings in shares of 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 purchasing an additional 1,690 shares during the last quarter. Deseret Mutual Benefit Administrators raised its stake in shares of Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after acquiring an additional 674 shares during the period. Colonial Trust Co SC raised its stake in shares of 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 valued at $39,000 after acquiring an additional 1,627 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Pacific Gas & Electric by 198.1% in the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 2,027 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Price Performance

NYSE:PCG traded down $0.13 during mid-day trading on Friday, reaching $15.19. 14,807,228 shares of the company were exchanged, compared to its average volume of 23,491,582. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72. The company has a fifty day moving average of $14.11 and a 200 day moving average of $15.74. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The stock has a market cap of $40.63 billion, a PE ratio of 13.93, a PEG ratio of 1.14 and a beta of 0.54.

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

Pacific Gas & Electric Dividend Announcement

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

Analysts Set New Price Targets

Several equities research analysts recently issued reports on PCG shares. Mizuho lifted their price target 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. Evercore ISI lifted 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 research note on Monday, April 28th. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Guggenheim lifted their price target on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, April 25th. Finally, Barclays decreased their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. 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's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

Pacific Gas & Electric Company 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.