Edgestream Partners L.P. Makes New Investment in Pacific Gas & Electric Co. (NYSE:PCG)

Edgestream Partners L.P. purchased a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 194,937 shares of the utilities provider's stock, valued at approximately $3,349,000.

Several other hedge funds also recently made changes to their positions in PCG. Cambridge Investment Research Advisors Inc. lifted its stake in Pacific Gas & Electric by 55.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after purchasing an additional 27,832 shares during the last quarter. Golden State Wealth Management LLC lifted its stake in Pacific Gas & Electric by 431.2% during the first quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock worth $60,000 after purchasing an additional 2,816 shares during the last quarter. GAMMA Investing LLC lifted its stake in Pacific Gas & Electric by 738.7% during the first quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock worth $3,024,000 after purchasing an additional 155,052 shares during the last quarter. Blue Trust Inc. lifted its stake in Pacific Gas & Electric by 38.1% during the first quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock worth $91,000 after purchasing an additional 1,468 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in Pacific Gas & Electric by 138.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock worth $4,373,000 after purchasing an additional 147,964 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PCG shares. Argus raised Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Guggenheim boosted their target price on Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, April 25th. Morgan Stanley set a $18.00 target price on Pacific Gas & Electric and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Jefferies Financial Group upped their price target on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Finally, Barclays decreased their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.73.

Pacific Gas & Electric Stock Up 1.3%

Shares of NYSE:PCG traded up $0.17 during trading on Friday, hitting $13.43. The stock had a trading volume of 24,502,032 shares, compared to its average volume of 18,867,790. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72. The company has a market capitalization of $35.93 billion, a PE ratio of 12.32, a PEG ratio of 0.93 and a beta of 0.55. The firm's fifty day moving average is $15.14 and its 200 day moving average is $16.23. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.79.

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 (EPS) for the quarter, missing the consensus estimate 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 firm had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the company posted $0.37 EPS. The firm's revenue was up 2.1% on a year-over-year basis. Analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.74%. Pacific Gas & Electric's payout ratio is currently 9.17%.

Insider Buying and Selling at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction on Tuesday, April 29th. The stock was 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 trade represents a 17.71% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is owned by insiders.

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.