IFC Advisors LLC Invests $2.53 Million in Pacific Gas & Electric Co. (NYSE:PCG)

IFC Advisors LLC purchased a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 147,491 shares of the utilities provider's stock, valued at approximately $2,534,000.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of 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 boosted its stake in shares of 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 purchasing an additional 2,151,494 shares during the period. Capital Research Global Investors boosted its stake 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. Norges Bank purchased a new position in shares of Pacific Gas & Electric in the fourth quarter valued at approximately $591,625,000. Finally, Northern Trust Corp boosted its stake in shares of Pacific Gas & Electric by 6.8% in the fourth quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock valued at $385,962,000 after purchasing an additional 1,214,394 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Performance

PCG traded down $0.13 during trading on Friday, hitting $13.41. The stock had a trading volume of 18,758,695 shares, compared to its average volume of 18,653,606. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95. The firm has a market capitalization of $35.88 billion, a P/E ratio of 12.30, a PEG ratio of 0.96 and a beta of 0.55. The company's 50-day moving average price is $15.46 and its 200 day moving average price is $16.42. Pacific Gas & Electric Co. has a twelve month low of $13.34 and a twelve month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced 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). The firm had revenue of $5.98 billion during the quarter, compared to analyst estimates 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 quarterly revenue was up 2.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.37 earnings per share. On average, equities research analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.025 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.75%. Pacific Gas & Electric's dividend payout ratio is currently 9.17%.

Insider Transactions at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the business's stock in a transaction on 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 approximately $2,614,306.80. The trade was a 17.71% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PCG shares. Wells Fargo & Company reiterated an "overweight" rating and issued a $24.00 price target on shares of Pacific Gas & Electric in a research note on Friday, April 25th. BMO Capital Markets decreased their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Barclays decreased their price target on shares of 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. Jefferies Financial Group lifted 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. Finally, Mizuho lifted their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. 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 company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $20.73.

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.