Envestnet Portfolio Solutions Inc. Sells 41,349 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Envestnet Portfolio Solutions Inc. lowered its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 69.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,253 shares of the utilities provider's stock after selling 41,349 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Pacific Gas & Electric were worth $314,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. State of Alaska Department of Revenue raised its holdings in shares of Pacific Gas & Electric by 2.2% during the 1st quarter. State of Alaska Department of Revenue now owns 357,075 shares of the utilities provider's stock worth $6,134,000 after acquiring an additional 7,705 shares in the last quarter. Janney Montgomery Scott LLC increased its position in Pacific Gas & Electric by 6.5% in the first quarter. Janney Montgomery Scott LLC now owns 87,419 shares of the utilities provider's stock worth $1,502,000 after purchasing an additional 5,307 shares during the last quarter. Brighton Jones LLC purchased a new stake in Pacific Gas & Electric during the first quarter valued at $218,000. Exchange Traded Concepts LLC lifted its position in Pacific Gas & Electric by 4,665.9% during the first quarter. Exchange Traded Concepts LLC now owns 297,390 shares of the utilities provider's stock valued at $5,109,000 after purchasing an additional 291,150 shares during the last quarter. Finally, Cliftonlarsonallen Wealth Advisors LLC lifted its position in Pacific Gas & Electric by 5.9% during the first quarter. Cliftonlarsonallen Wealth Advisors LLC now owns 33,014 shares of the utilities provider's stock valued at $567,000 after purchasing an additional 1,842 shares during the last quarter. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Trading Up 0.3%

PCG traded up $0.05 during trading hours on Monday, reaching $14.02. 1,322,896 shares of the company's stock traded hands, compared to its average volume of 22,842,930. The firm has a 50-day moving average price of $16.13 and a 200 day moving average price of $16.79. The firm has a market capitalization of $37.50 billion, a PE ratio of 12.86, a PEG ratio of 0.99 and a beta of 0.60. 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 Co. has a 52-week low of $13.34 and a 52-week high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business 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%. The firm's revenue for the quarter was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.37 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 9.17%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on PCG shares. Mizuho upped their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research report on Monday, May 19th. Morgan Stanley set a $18.00 price objective on Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Evercore ISI raised their price objective on Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Wells Fargo & Company reiterated an "overweight" rating and issued a $24.00 target price on shares of Pacific Gas & Electric in a report on Friday, April 25th. Finally, Barclays decreased their price target on 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 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. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.73.

Insider Activity

In other 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 transaction, the executive vice president now owns 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.15% of the company's stock.

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.