Mizuho Markets Americas LLC Takes Position in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Mizuho Markets Americas LLC has acquired a new stake in Pacific Gas & Electric Co., purchasing 195,237 shares valued at approximately $3.35 million in the first quarter.
• Several hedge funds, including Envestnet Asset Management and Federated Hermes, significantly increased their holdings in Pacific Gas & Electric during the fourth quarter, reflecting strong interest from institutional investors.
• The stock's recent performance shows continued analyst attention, with varied ratings and a current average price target of $20.55, emphasizing a "Moderate Buy" stance on the stock.

Mizuho Markets Americas LLC purchased a new position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 195,237 shares of the utilities provider's stock, valued at approximately $3,354,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Envestnet Asset Management Inc. lifted its holdings in Pacific Gas & Electric by 93.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,191,123 shares of the utilities provider's stock worth $24,037,000 after purchasing an additional 575,365 shares during the last quarter. Federated Hermes Inc. lifted its holdings in Pacific Gas & Electric by 160.8% in the 4th quarter. Federated Hermes Inc. now owns 10,932 shares of the utilities provider's stock worth $221,000 after purchasing an additional 6,740 shares during the last quarter. Shelton Capital Management acquired a new stake in Pacific Gas & Electric in the 4th quarter worth approximately $244,000. Raymond James Financial Inc. acquired a new stake in Pacific Gas & Electric in the 4th quarter worth approximately $24,770,000. Finally, Capital Fund Management S.A. lifted its holdings in Pacific Gas & Electric by 3,662.6% in the 4th quarter. Capital Fund Management S.A. now owns 1,204,816 shares of the utilities provider's stock worth $24,313,000 after purchasing an additional 1,172,795 shares during the last quarter. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Price Performance

NYSE:PCG traded up $0.38 during trading hours on Tuesday, reaching $15.49. The company had a trading volume of 26,107,111 shares, compared to its average volume of 26,612,082. The stock has a 50-day moving average of $14.14 and a two-hundred day moving average of $15.75. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The firm has a market capitalization of $41.43 billion, a PE ratio of 14.21, a PEG ratio of 1.12 and a beta of 0.54. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). The company had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The business's revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the company earned $0.31 earnings per share. Analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.6%. The ex-dividend date was Monday, June 30th. Pacific Gas & Electric's dividend payout ratio is presently 9.17%.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Evercore ISI upped their price target on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. BMO Capital Markets cut their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a report on Monday, April 14th. Mizuho upped their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Wells Fargo & Company reiterated an "overweight" rating and set a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. Finally, Argus upgraded Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. One 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. According to data from MarketBeat.com, Pacific Gas & Electric currently has an average rating of "Moderate Buy" and a consensus target price of $20.55.

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.