21,610 Shares in Pacific Gas & Electric Co. (NYSE:PCG) Bought by International Assets Investment Management LLC

International Assets Investment Management LLC acquired a new position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,610 shares of the utilities provider's stock, valued at approximately $371,000.

A number of other hedge funds also recently added to or reduced their stakes in PCG. Truist Financial Corp lifted its stake in Pacific Gas & Electric by 131.9% in the fourth quarter. Truist Financial Corp now owns 79,994 shares of the utilities provider's stock worth $1,614,000 after acquiring an additional 45,504 shares during the period. D.A. Davidson & CO. bought a new position in Pacific Gas & Electric in the fourth quarter worth about $205,000. Atria Wealth Solutions Inc. bought a new position in Pacific Gas & Electric in the fourth quarter worth about $466,000. First Horizon Advisors Inc. raised its holdings in Pacific Gas & Electric by 746.0% in the fourth quarter. First Horizon Advisors Inc. now owns 5,465 shares of the utilities provider's stock worth $110,000 after purchasing an additional 4,819 shares in the last quarter. Finally, Illinois Municipal Retirement Fund raised its holdings in Pacific Gas & Electric by 37.9% in the fourth quarter. Illinois Municipal Retirement Fund now owns 67,647 shares of the utilities provider's stock worth $1,365,000 after purchasing an additional 18,585 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG traded down $0.11 during midday trading on Friday, reaching $13.98. The company had a trading volume of 31,193,948 shares, compared to its average volume of 18,250,942. The business's 50-day simple moving average is $16.19 and its 200 day simple moving average is $16.87. The stock has a market cap of $37.39 billion, a P/E ratio of 12.82, a P/E/G ratio of 0.98 and a beta of 0.60. Pacific Gas & Electric Co. has a 1 year low of $13.34 and a 1 year high of $21.72. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted 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 analysts' expectations of $6.23 billion. Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The company's quarterly revenue was up 2.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.37 EPS. On average, analysts forecast 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 will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.025 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.72%. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 9.17%.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the completion of the transaction, the executive vice president now owns 151,116 shares of the company's stock, valued at $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on PCG shares. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Morgan Stanley set a $18.00 target price on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Jefferies Financial Group boosted their target price on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. UBS Group downgraded shares of Pacific Gas & Electric from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $22.00 to $19.00 in a report on Wednesday, March 19th. Finally, Evercore ISI boosted their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Pacific Gas & Electric has an average rating of "Moderate Buy" and a consensus price target 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.