Envestnet Asset Management Inc. Sells 480,712 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Envestnet Asset Management Inc. decreased its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 40.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 710,411 shares of the utilities provider's stock after selling 480,712 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Pacific Gas & Electric were worth $12,205,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PCG. Vanguard Group Inc. boosted its holdings in 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 purchasing an additional 6,151,233 shares during the period. Geode Capital Management LLC raised its stake in Pacific Gas & Electric by 4.3% in the fourth quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock valued at $1,046,462,000 after buying an additional 2,151,494 shares in the last quarter. Capital Research Global Investors increased its position in shares of Pacific Gas & Electric by 70.3% during the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after purchasing an additional 19,317,171 shares in the last quarter. Norges Bank acquired a new stake in shares of Pacific Gas & Electric during the fourth quarter worth about $591,625,000. Finally, Northern Trust Corp grew its holdings in shares of Pacific Gas & Electric by 6.8% during the fourth quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock worth $385,962,000 after buying an additional 1,214,394 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Trading Up 1.8%

Shares of PCG traded up $0.24 on Tuesday, reaching $13.62. 8,244,270 shares of the company's stock were exchanged, compared to its average volume of 18,892,447. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $36.43 billion, a P/E ratio of 12.49, a price-to-earnings-growth ratio of 1.00 and a beta of 0.55. The business has a 50 day moving average price of $14.99 and a two-hundred day moving average price of $16.08. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same period in the prior year, the company earned $0.37 EPS. The firm's revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric's dividend payout ratio is currently 9.17%.

Insider Buying and Selling

In other news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 0.15% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on PCG. Guggenheim lifted their price objective on Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, April 25th. BMO Capital Markets cut their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Barclays cut their price target on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday. Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the company an "underweight" rating in a report on Thursday, May 22nd. Finally, Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price 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.