GF Fund Management CO. LTD. Sells 31,835 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

GF Fund Management CO. LTD. lowered its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 9.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 306,268 shares of the utilities provider's stock after selling 31,835 shares during the period. GF Fund Management CO. LTD.'s holdings in Pacific Gas & Electric were worth $5,262,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. True Wealth Design LLC grew its stake in shares of Pacific Gas & Electric by 1,233.6% during the 4th quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 1,690 shares during the period. Colonial Trust Co SC grew its position in Pacific Gas & Electric by 563.0% during the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after buying an additional 1,627 shares during the period. Deseret Mutual Benefit Administrators grew its position in Pacific Gas & Electric by 45.0% during the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after buying an additional 674 shares during the period. Golden State Wealth Management LLC grew its position 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 valued at $60,000 after acquiring an additional 2,816 shares during the period. Finally, Versant Capital Management Inc grew its position in shares of Pacific Gas & Electric by 124.9% during the 1st quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 1,927 shares during the period. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

Shares of Pacific Gas & Electric stock traded down $0.28 on Monday, hitting $13.63. 20,206,848 shares of the company traded hands, compared to its average volume of 18,476,070. The stock has a market capitalization of $36.47 billion, a P/E ratio of 12.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95. Pacific Gas & Electric Co. has a 52 week low of $13.34 and a 52 week high of $21.72. The business has a 50-day simple moving average of $15.72 and a 200 day simple moving average of $16.55.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). The company had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. Research analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be issued a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.73%. Pacific Gas & Electric's dividend payout ratio (DPR) is 9.17%.

Insider Activity

In other news, EVP Carla J. Peterman sold 32,519 shares of Pacific Gas & Electric stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president directly owned 151,116 shares of the company's stock, valued at approximately $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.15% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on PCG. BMO Capital Markets cut their price objective on shares of 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. Argus raised Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Barclays cut their price objective on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Evercore ISI boosted 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. Finally, Morgan Stanley set a $18.00 price objective on Pacific Gas & Electric and gave the company an "underweight" rating in a research note on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Pacific Gas & Electric currently has an average rating of "Moderate Buy" and an average target price of $20.73.

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.