National Pension Service Increases Position in Pacific Gas & Electric Co. $PCG

Key Points

• The National Pension Service increased its stake in Pacific Gas & Electric Co. by 12.3% during the first quarter, owning 3,027,095 shares valued at approximately $52.01 million.
• Pacific Gas & Electric recently reported an EPS of $0.31, missing estimates, with revenue of $5.90 billion, down 1.5% year-over-year.
• Institutional investors hold 78.56% of Pacific Gas & Electric's stock, reflecting significant interest from major financial players.

National Pension Service raised its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 12.3% in the first quarter, according to its most recent 13F filing with the SEC. The fund owned 3,027,095 shares of the utilities provider's stock after purchasing an additional 331,578 shares during the period. National Pension Service owned approximately 0.11% of Pacific Gas & Electric worth $52,005,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in PCG. Federated Hermes Inc. boosted its stake in Pacific Gas & Electric by 160.8% during the 4th quarter. Federated Hermes Inc. now owns 10,932 shares of the utilities provider's stock valued at $221,000 after purchasing an additional 6,740 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Pacific Gas & Electric in the 4th quarter worth approximately $24,770,000. Mariner LLC raised its holdings in shares of Pacific Gas & Electric by 3.9% in the 4th quarter. Mariner LLC now owns 183,702 shares of the utilities provider's stock worth $3,707,000 after purchasing an additional 6,914 shares during the period. Guggenheim Capital LLC raised its holdings in shares of Pacific Gas & Electric by 21.8% in the 4th quarter. Guggenheim Capital LLC now owns 174,923 shares of the utilities provider's stock worth $3,530,000 after purchasing an additional 31,286 shares during the period. Finally, Jump Financial LLC raised its holdings in shares of Pacific Gas & Electric by 12.2% in the 4th quarter. Jump Financial LLC now owns 123,100 shares of the utilities provider's stock worth $2,484,000 after purchasing an additional 13,362 shares during the period. Institutional investors and hedge funds own 78.56% of the company's stock.

Pacific Gas & Electric Trading Up 0.5%

Pacific Gas & Electric stock traded up $0.08 during mid-day trading on Monday, hitting $15.10. The company's stock had a trading volume of 27,821,586 shares, compared to its average volume of 23,564,787. 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 $40.40 billion, a price-to-earnings ratio of 13.85, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54. The business has a 50 day moving average price of $14.10 and a 200-day moving average price of $15.74. Pacific Gas & Electric Co. has a 12 month low of $12.97 and a 12 month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The business had revenue of $5.90 billion during 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%. The business's revenue for the quarter was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.31 earnings per share. As a group, analysts forecast that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

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

Wall Street Analysts Forecast Growth

PCG has been the subject of a number of recent research reports. Mizuho lifted their price objective 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 price target on shares of Pacific Gas & Electric and gave the company an "underweight" rating in a research report on Thursday, May 22nd. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Barclays reduced their price target on shares of Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Finally, Evercore ISI upped 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 research report on Monday, April 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock 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.