Ethos Financial Group LLC Takes $348,000 Position in Pacific Gas & Electric Co. $PCG

Key Points

• Ethos Financial Group LLC has acquired a new stake in Pacific Gas & Electric Co., purchasing 20,261 shares valued at approximately $348,000.
• Several large investors, including Capital Research Global Investors and Zurich Insurance Group Ltd, have significantly increased their positions in PG&E during the recent quarters.
• P&G reported $0.31 EPS for the last quarter, missing estimates, and has announced a quarterly dividend of $0.025 per share, reflecting a 0.7% yield.

Ethos Financial Group LLC acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 20,261 shares of the utilities provider's stock, valued at approximately $348,000.

Several other large investors also recently modified their holdings of PCG. Capital Research Global Investors raised 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 purchasing an additional 19,317,171 shares during the period. Zimmer Partners LP raised its position in shares of Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock valued at $255,506,000 after purchasing an additional 5,814,624 shares during the period. Vanguard Group Inc. raised 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 purchasing an additional 2,926,384 shares during the period. Zurich Insurance Group Ltd FI increased its position in 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 acquiring an additional 2,604,445 shares during the period. Finally, Aberdeen Group plc increased its position in Pacific Gas & Electric by 151.4% during the first quarter. Aberdeen Group plc now owns 4,077,811 shares of the utilities provider's stock worth $69,506,000 after acquiring an additional 2,455,807 shares during the period. 78.56% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a research report on Wednesday, April 23rd. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Morgan Stanley set a $18.00 price target on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. Barclays decreased their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, July 22nd. Finally, Guggenheim raised their target price 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. 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's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

Pacific Gas & Electric Trading Down 1.8%

PCG opened at $15.03 on Monday. The company's 50 day moving average is $14.10 and its 200-day moving average is $15.74. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The company has a current ratio of 0.94, a quick ratio of 0.89 and a debt-to-equity ratio of 1.81. The company has a market cap of $40.21 billion, a P/E ratio of 13.79, a PEG ratio of 1.12 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted 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 return on equity of 10.13% and a net margin of 9.95%. The business had revenue of $5.90 billion for 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 firm's quarterly revenue was down 1.5% on a year-over-year basis. Equities research analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Announces Dividend

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

Pacific Gas & Electric 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.

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