McGinn Penninger Investment Management Inc. Grows Position in Pacific Gas & Electric Co. (NYSE:PCG)

McGinn Penninger Investment Management Inc. raised its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 269,958 shares of the utilities provider's stock after buying an additional 17,960 shares during the period. Pacific Gas & Electric accounts for 3.0% of McGinn Penninger Investment Management Inc.'s holdings, making the stock its 17th largest holding. McGinn Penninger Investment Management Inc.'s holdings in Pacific Gas & Electric were worth $4,638,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of PCG. Deseret Mutual Benefit Administrators grew its holdings in Pacific Gas & Electric by 45.0% during the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after acquiring an additional 674 shares during the last quarter. Level Four Advisory Services LLC grew its stake in shares of Pacific Gas & Electric by 7.5% in the fourth quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock worth $223,000 after purchasing an additional 772 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of Pacific Gas & Electric by 1.9% in the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after purchasing an additional 785 shares during the last quarter. Optiver Holding B.V. increased its holdings in Pacific Gas & Electric by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 825 shares during the period. Finally, Parallel Advisors LLC raised its position in Pacific Gas & Electric by 2.4% during the 1st quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock worth $664,000 after purchasing an additional 887 shares during the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Down 1.1%

Shares of PCG traded down $0.15 during trading hours on Wednesday, hitting $13.98. The stock had a trading volume of 22,587,869 shares, compared to its average volume of 18,405,743. Pacific Gas & Electric Co. has a 1-year low of $13.34 and a 1-year high of $21.72. The firm has a market capitalization of $37.40 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 0.99 and a beta of 0.55. The firm has a 50 day simple moving average of $16.00 and a 200-day simple moving average of $16.73. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.90.

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 firm had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the firm earned $0.37 EPS. The company's revenue was up 2.1% compared to the same quarter last year. Sell-side analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. BMO Capital Markets decreased their price target on 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. Mizuho raised their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Evercore ISI boosted their price target on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research report on Monday, April 28th. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Finally, Morgan Stanley set a $18.00 target price on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.73.

Insider Activity

In related news, EVP Carla J. Peterman sold 32,519 shares of the company's stock in a transaction dated Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president owned 151,116 shares in the company, valued at $2,614,306.80. This represents a 17.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.15% of the stock is owned by corporate insiders.

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.