Mizuho Securities USA LLC Has $3.02 Million Stake in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Mizuho Securities USA LLC reduced its stake in Pacific Gas & Electric Co. by 15.2%, now holding 175,639 shares valued at approximately $3.02 million.
• The company's quarterly earnings missed expectations, reporting $0.31 per share against an estimate of $0.33, with a revenue of $5.90 billion compared to an expected $6.37 billion.
• Pacific Gas & Electric recently declared a quarterly dividend of $0.025, yielding an annualized dividend of 0.7% based on its payout ratio of 9.17%.

Mizuho Securities USA LLC reduced its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 15.2% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 175,639 shares of the utilities provider's stock after selling 31,564 shares during the period. Mizuho Securities USA LLC's holdings in Pacific Gas & Electric were worth $3,017,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Costello Asset Management INC acquired a new position in Pacific Gas & Electric in the first quarter valued at approximately $31,000. True Wealth Design LLC lifted its holdings in Pacific Gas & Electric by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after buying an additional 1,690 shares during the period. Colonial Trust Co SC lifted its holdings in Pacific Gas & Electric by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock valued at $39,000 after buying an additional 1,627 shares during the period. Deseret Mutual Benefit Administrators lifted its holdings in Pacific Gas & Electric by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after buying an additional 674 shares during the period. Finally, Larson Financial Group LLC lifted its holdings in Pacific Gas & Electric by 198.1% in the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock valued at $52,000 after buying an additional 2,027 shares during the period. 78.56% of the stock is currently owned by institutional investors and hedge funds.

Pacific Gas & Electric Trading Down 0.5%

Shares of NYSE:PCG opened at $14.98 on Monday. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The company's fifty day simple moving average is $14.19 and its 200 day simple moving average is $15.76. The firm has a market cap of $40.08 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 1.12 and a beta of 0.54.

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

Pacific Gas & Electric Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 30th. Pacific Gas & Electric's payout ratio is presently 9.17%.

Analysts Set New Price Targets

Several equities research analysts have commented on PCG shares. Mizuho upped their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Morgan Stanley set a $18.00 target price on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a report on Thursday, May 22nd. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Evercore ISI increased their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a report on Monday, April 28th. Finally, Jefferies Financial Group increased their target price on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a "buy" rating in a report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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