Keybank National Association OH Lowers Stock Position in Pacific Gas & Electric Co. (NYSE:PCG)

Keybank National Association OH lessened its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 41.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 273,558 shares of the utilities provider's stock after selling 197,470 shares during the period. Keybank National Association OH's holdings in Pacific Gas & Electric were worth $4,700,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Pacific Gas & Electric by 55.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after buying an additional 27,832 shares during the period. GAMMA Investing LLC lifted its stake in shares of Pacific Gas & Electric by 738.7% during the first quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock worth $3,024,000 after buying an additional 155,052 shares during the period. Blue Trust Inc. lifted its stake in shares of Pacific Gas & Electric by 38.1% during the first quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock worth $91,000 after buying an additional 1,468 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in shares of Pacific Gas & Electric by 138.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock worth $4,373,000 after buying an additional 147,964 shares during the period. Finally, Cetera Investment Advisers lifted its stake in shares of Pacific Gas & Electric by 14.5% during the fourth quarter. Cetera Investment Advisers now owns 101,240 shares of the utilities provider's stock worth $2,043,000 after buying an additional 12,847 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Insider Transactions at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the 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 sale, the executive vice president directly owned 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.14% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on PCG shares. Barclays lowered their price objective 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. Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 price objective on shares of Pacific Gas & Electric in a research note on Friday, April 25th. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Jefferies Financial Group upped their price objective on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Finally, Mizuho upped their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $20.73.

Pacific Gas & Electric Stock Performance

Shares of PCG stock traded down $0.09 during trading hours on Friday, hitting $13.91. The company's stock had a trading volume of 15,953,592 shares, compared to its average volume of 18,469,097. The company has a 50 day moving average of $15.79 and a 200 day moving average of $16.62. The stock has a market cap of $37.20 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55. 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 Co. has a 12-month low of $13.34 and a 12-month high of $21.72.

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

Pacific Gas & Electric Announces Dividend

The company also recently declared 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. This represents a $0.10 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date of this dividend is Monday, June 30th. Pacific Gas & Electric's dividend payout ratio (DPR) is presently 9.17%.

About Pacific Gas & Electric

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.