New York State Common Retirement Fund Boosts Stock Holdings in Pacific Gas & Electric Co. (NYSE:PCG)

New York State Common Retirement Fund boosted its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 20.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,228,553 shares of the utilities provider's stock after purchasing an additional 383,683 shares during the period. New York State Common Retirement Fund owned about 0.08% of Pacific Gas & Electric worth $38,287,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. True Wealth Design LLC lifted its position in shares of 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 acquiring an additional 1,690 shares in the last quarter. Colonial Trust Co SC increased its holdings in shares of 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 worth $39,000 after purchasing an additional 1,627 shares during the last quarter. Deseret Mutual Benefit Administrators increased its holdings in shares of 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 worth $37,000 after purchasing an additional 674 shares during the last quarter. Golden State Wealth Management LLC increased its holdings in shares of Pacific Gas & Electric by 431.2% in the first quarter. Golden State Wealth Management LLC now owns 3,469 shares of the utilities provider's stock worth $60,000 after purchasing an additional 2,816 shares during the last quarter. Finally, Versant Capital Management Inc increased its holdings in shares of Pacific Gas & Electric by 124.9% in the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock worth $60,000 after purchasing an additional 1,927 shares during the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Up 1.3%

Shares of NYSE:PCG traded up $0.18 during trading on Friday, hitting $13.44. The company's stock had a trading volume of 10,570,445 shares, compared to its average volume of 18,814,066. The business has a 50 day moving average price of $15.14 and a two-hundred day moving average price of $16.23. The company has a market capitalization of $35.94 billion, a PE ratio of 12.33, a P/E/G ratio of 0.93 and a beta of 0.55. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last posted its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The business's revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.37 EPS. As a group, research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date was Monday, June 30th. Pacific Gas & Electric's dividend payout ratio is currently 9.17%.

Analysts Set New Price Targets

PCG has been the topic of several research reports. Barclays reduced their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Argus raised Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Morgan Stanley set a $18.00 price objective on Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Guggenheim boosted their price objective on Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Finally, Evercore ISI boosted their price objective on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research note on Monday, April 28th. One equities research 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. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $20.73.

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the transaction, the executive vice president owned 151,116 shares of the company's stock, valued at $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.14% of the stock is currently owned by corporate 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.