Teacher Retirement System of Texas grew its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 1,339.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,668 shares of the utilities provider's stock after purchasing an additional 298,389 shares during the period. Teacher Retirement System of Texas' holdings in Pacific Gas & Electric were worth $5,509,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. grew its position in shares of Pacific Gas & Electric by 55.6% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 77,846 shares of the utilities provider's stock worth $1,337,000 after buying an additional 27,832 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Pacific Gas & Electric by 738.7% during the first quarter. GAMMA Investing LLC now owns 176,043 shares of the utilities provider's stock worth $3,024,000 after buying an additional 155,052 shares in the last quarter. Blue Trust Inc. grew its position in shares of Pacific Gas & Electric by 38.1% during the first quarter. Blue Trust Inc. now owns 5,316 shares of the utilities provider's stock worth $91,000 after buying an additional 1,468 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Pacific Gas & Electric by 138.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 254,549 shares of the utilities provider's stock worth $4,373,000 after buying an additional 147,964 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in shares of Pacific Gas & Electric by 14.5% during the fourth quarter. Cetera Investment Advisers now owns 101,240 shares of the utilities provider's stock worth $2,043,000 after buying an additional 12,847 shares in the last quarter. 78.56% of the stock is owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on PCG. Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the company an "underweight" rating in a report on Thursday, May 22nd. Argus raised Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Wells Fargo & Company reaffirmed an "overweight" rating and issued a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. Guggenheim upped their price target 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 upped their price target 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 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, Pacific Gas & Electric currently has an average rating of "Moderate Buy" and a consensus target price of $20.73.
Read Our Latest Analysis on PCG
Pacific Gas & Electric Price Performance
Shares of PCG traded down $0.28 during trading hours on Monday, reaching $13.63. 20,206,532 shares of the company traded hands, compared to its average volume of 18,476,047. The stock has a fifty day simple moving average of $15.79 and a 200 day simple moving average of $16.60. The company has a quick ratio of 0.90, a current ratio of 0.95 and a debt-to-equity ratio of 1.79. Pacific Gas & Electric Co. has a fifty-two week low of $13.34 and a fifty-two week high of $21.72. The stock has a market capitalization of $36.47 billion, a PE ratio of 12.50, a price-to-earnings-growth ratio of 0.98 and a beta of 0.55.
Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.35 by ($0.02). Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The business had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period in the previous year, the business posted $0.37 earnings per share. The firm's quarterly revenue was up 2.1% on a year-over-year basis. As a group, research analysts predict that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.
Pacific Gas & Electric Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be paid a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.73%. The ex-dividend date of this dividend is Monday, June 30th. Pacific Gas & Electric's payout ratio is 9.17%.
Insider Activity at Pacific Gas & Electric
In other news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction dated Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the transaction, the executive vice president directly owned 151,116 shares in the company, valued at $2,614,306.80. This trade represents a 17.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.15% of the stock is currently owned by company insiders.
About Pacific Gas & Electric
(
Free Report)
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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