Entropy Technologies LP Acquires Shares of 123,781 Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Entropy Technologies LP acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG), purchasing 123,781 shares valued at approximately $2.1 million in the 1st quarter.
• Multiple institutional investors made significant adjustments to their holdings in PCG, with Envestnet Asset Management increasing its position by 93.4% during the last quarter.
• Pacific Gas & Electric reported earnings per share of $0.31 for the last quarter, missing estimates by $0.02 and experiencing a 1.5% year-over-year revenue decline.

Entropy Technologies LP acquired a new position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 123,781 shares of the utilities provider's stock, valued at approximately $2,127,000.

A number of other large investors have also recently bought and sold shares of the company. Capital Research Global Investors lifted its position in shares of Pacific Gas & Electric by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock valued at $944,540,000 after buying an additional 19,317,171 shares during the last quarter. Zimmer Partners LP increased its stake in shares of Pacific Gas & Electric by 84.9% during the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock worth $255,506,000 after purchasing an additional 5,814,624 shares during the period. Vanguard Group Inc. boosted its position in shares of Pacific Gas & Electric by 1.2% in the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider's stock valued at $4,420,162,000 after acquiring an additional 2,926,384 shares during the period. Zurich Insurance Group Ltd FI increased its holdings in shares of Pacific Gas & Electric by 272.5% during the fourth quarter. Zurich Insurance Group Ltd FI now owns 3,560,305 shares of the utilities provider's stock worth $71,847,000 after purchasing an additional 2,604,445 shares during the period. Finally, BROOKFIELD Corp ON grew its holdings in shares of Pacific Gas & Electric by 16.2% during the 4th quarter. BROOKFIELD Corp ON now owns 14,692,444 shares of the utilities provider's stock worth $296,494,000 after purchasing an additional 2,049,359 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Trading Up 0.5%

Shares of Pacific Gas & Electric stock traded up $0.07 on Thursday, reaching $15.32. 17,523,767 shares of the company's stock were exchanged, compared to its average volume of 23,552,811. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.89 and a current ratio of 0.94. The company has a market capitalization of $40.99 billion, a P/E ratio of 14.05, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54. The firm's 50-day moving average is $14.12 and its two-hundred day moving average is $15.75. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72.

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

Pacific Gas & Electric Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric's payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PCG shares. Jefferies Financial Group raised their target price on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Morgan Stanley set a $18.00 target price on Pacific Gas & Electric and gave the company an "underweight" rating in a research report on Thursday, May 22nd. Mizuho increased their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Finally, Barclays dropped their price objective on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research note on Tuesday, July 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.55.

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.