Fox Hill Wealth Management Makes New $1.35 Million Investment in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Fox Hill Wealth Management invested approximately $1.35 million in Pacific Gas & Electric Co. (NYSE:PCG) by acquiring 78,438 shares in the first quarter.
• Pacific Gas & Electric reported earnings per share (EPS) of $0.31 for the last quarter, which was below the consensus estimate of $0.33, indicating a struggle with revenue as it decreased by 1.5% compared to the same quarter last year.
• The company recently announced a quarterly dividend of $0.025 per share, with a 0.6% yield, reflecting a dividend payout ratio of 9.17%.

Fox Hill Wealth Management acquired a new stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 78,438 shares of the utilities provider's stock, valued at approximately $1,348,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PCG. Cambridge Investment Research Advisors Inc. increased its stake in shares of Pacific Gas & Electric by 55.6% during the 1st 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 increased its stake in shares of Pacific Gas & Electric by 431.2% during the 1st 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 increased its stake in shares of Pacific Gas & Electric by 738.7% during the 1st 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. increased its stake in shares of Pacific Gas & Electric by 38.1% during the 1st 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 increased its stake in shares of Pacific Gas & Electric by 138.8% during the 1st 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. Hedge funds and other institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

NYSE:PCG traded down $0.28 during trading hours on Friday, hitting $15.03. The stock had a trading volume of 29,242,219 shares, compared to its average volume of 26,275,904. The company has a 50 day simple moving average of $14.10 and a two-hundred day simple moving average of $15.74. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The firm has a market capitalization of $40.21 billion, a price-to-earnings ratio of 13.79, a P/E/G ratio of 1.12 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the firm posted $0.31 earnings per share. The business's revenue was down 1.5% on a year-over-year basis. Research analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders 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 dividend 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%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PCG. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. 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 note on Wednesday, April 23rd. Guggenheim raised their price objective on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Morgan Stanley set a $18.00 price objective on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Finally, Mizuho raised their price objective 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus 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.