Pacific Gas & Electric Co. (NYSE:PCG) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. increased its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 33.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 250,716 shares of the utilities provider's stock after buying an additional 63,168 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Pacific Gas & Electric were worth $4,307,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its position in 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 valued at $5,132,964,000 after purchasing an additional 6,151,233 shares during the period. Geode Capital Management LLC increased its position in 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 valued at $1,046,462,000 after purchasing an additional 2,151,494 shares during the period. Capital Research Global Investors increased its position in 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 valued at $944,540,000 after purchasing an additional 19,317,171 shares during the period. Norges Bank purchased a new position in Pacific Gas & Electric during the 4th quarter valued at about $591,625,000. Finally, Northern Trust Corp increased its position in 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 valued at $385,962,000 after purchasing an additional 1,214,394 shares during the period. Hedge funds and other institutional investors own 78.56% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the stock. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Jefferies Financial Group raised their target price on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. 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 report 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 report on Monday, April 28th. Finally, Barclays cut their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. 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 stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $20.73.

Pacific Gas & Electric Stock Down 0.6%

Shares of NYSE:PCG traded down $0.09 during trading on Friday, reaching $13.91. The stock had a trading volume of 15,953,592 shares, compared to its average volume of 18,469,097. Pacific Gas & Electric Co. has a one year low of $13.34 and a one year high of $21.72. The company has a market capitalization of $37.20 billion, a P/E ratio of 12.76, a PEG 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. The firm's 50-day simple moving average is $15.79 and its 200 day simple moving average is $16.62.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the business posted $0.37 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Investors 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 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%.

Insider Buying and Selling

In related news, EVP Carla J. Peterman sold 32,519 shares of Pacific Gas & Electric stock in a transaction that occurred 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 completion of the sale, the executive vice president directly owned 151,116 shares in the company, valued at $2,614,306.80. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.14% of the stock is owned by company insiders.

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.