Kentucky Retirement Systems Insurance Trust Fund Has $1.09 Million Stake in Pacific Gas & Electric Co. (NYSE:PCG)

Kentucky Retirement Systems Insurance Trust Fund lifted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 299.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 63,494 shares of the utilities provider's stock after buying an additional 47,583 shares during the period. Kentucky Retirement Systems Insurance Trust Fund's holdings in Pacific Gas & Electric were worth $1,091,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Pacific Gas & Electric by 2.5% during the 4th quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after buying an additional 6,151,233 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Pacific Gas & Electric by 4.3% during the 4th quarter. Geode Capital Management LLC now owns 51,988,553 shares of the utilities provider's stock worth $1,046,462,000 after buying an additional 2,151,494 shares during the last quarter. Capital Research Global Investors boosted its stake in shares of Pacific Gas & Electric by 70.3% during the 4th quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after buying an additional 19,317,171 shares during the last quarter. Norges Bank acquired a new position in shares of Pacific Gas & Electric during the 4th quarter worth about $591,625,000. Finally, Northern Trust Corp boosted its stake in shares of Pacific Gas & Electric by 6.8% during the 4th quarter. Northern Trust Corp now owns 19,125,945 shares of the utilities provider's stock worth $385,962,000 after buying an additional 1,214,394 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Stock Performance

PCG stock traded down $0.36 during mid-day trading on Wednesday, hitting $13.80. 32,921,413 shares of the company were exchanged, compared to its average volume of 18,074,758. The business has a 50 day simple moving average of $16.26 and a 200-day simple moving average of $16.92. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79. The stock has a market capitalization of $36.92 billion, a PE ratio of 12.66, a price-to-earnings-growth ratio of 1.00 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.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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 company had revenue of $5.98 billion for the quarter, compared to analyst estimates 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 revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the business earned $0.37 earnings per share. On average, equities analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given 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 yield of 0.72%. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 9.17%.

Analysts Set New Price Targets

PCG has been the subject of a number of recent research reports. Guggenheim increased their price objective on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. UBS Group downgraded shares of Pacific Gas & Electric from a "buy" rating to a "neutral" rating and cut their target price for the company from $22.00 to $19.00 in a research note on Wednesday, March 19th. Evercore ISI raised their target price on shares of 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. Morgan Stanley set a $18.00 target price on shares of Pacific Gas & Electric and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Finally, BMO Capital Markets cut their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.73.

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction that occurred 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 sale, the executive vice president now directly owns 151,116 shares in the company, 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 legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

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.