National Bank of Canada FI Purchases 182,792 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• National Bank of Canada FI increased its stake in Pacific Gas & Electric Co. by 8.2%, owning 2,405,775 shares worth approximately $41.3 million as of the latest filing.
• Pacific Gas & Electric's recent earnings report showed earnings per share of $0.31, which missed the expected $0.33, alongside a revenue decline of 1.5% year-over-year.
• The company announced a quarterly dividend of $0.025 per share, yielding annually at 0.7% with a current payout ratio of 9.17%.

National Bank of Canada FI lifted its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 8.2% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,405,775 shares of the utilities provider's stock after purchasing an additional 182,792 shares during the period. National Bank of Canada FI owned approximately 0.09% of Pacific Gas & Electric worth $41,329,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Swiss National Bank grew its holdings in Pacific Gas & Electric by 7.9% during the 1st quarter. Swiss National Bank now owns 6,186,700 shares of the utilities provider's stock worth $106,288,000 after acquiring an additional 450,400 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Pacific Gas & Electric by 15.9% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 3,876,387 shares of the utilities provider's stock worth $66,596,000 after acquiring an additional 532,615 shares in the last quarter. Maryland State Retirement & Pension System grew its holdings in Pacific Gas & Electric by 2.3% during the 1st quarter. Maryland State Retirement & Pension System now owns 1,962,537 shares of the utilities provider's stock worth $33,716,000 after acquiring an additional 45,057 shares in the last quarter. Blue Barn Wealth LLC acquired a new position in Pacific Gas & Electric during the 1st quarter worth approximately $175,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in Pacific Gas & Electric by 5.9% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 12,882,526 shares of the utilities provider's stock worth $221,322,000 after acquiring an additional 720,500 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Price Performance

Shares of PCG stock traded up $0.12 during trading hours on Thursday, hitting $15.37. 10,179,436 shares of the company's stock were exchanged, compared to its average volume of 23,502,566. The stock's 50-day moving average is $14.12 and its 200-day moving average is $15.75. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The stock has a market cap of $41.11 billion, a price-to-earnings ratio of 14.09, a price-to-earnings-growth ratio of 1.15 and a beta of 0.54. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72.

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

Pacific Gas & Electric Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have recently issued reports on PCG. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Barclays lowered their target price on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Wells Fargo & Company restated an "overweight" rating and issued a $24.00 target price on shares of Pacific Gas & Electric in a report on Friday, April 25th. 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 report on Monday, May 19th. Finally, Guggenheim upped their price target on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, April 25th. One research 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 MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $20.55.

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.