Public Sector Pension Investment Board Increases Stake in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Pacific Gas & Electric Co. by 3.4%, acquiring an additional 19,518 shares, bringing its total holdings to 586,732 shares valued at approximately $10.08 million.
• Pacific Gas & Electric has reported quarterly earnings of $0.31 EPS, missing analysts' estimates, with revenue declining 1.5% year-over-year to $5.90 billion.
• The company announced a quarterly dividend of $0.025 per share, with a dividend yield of 0.7% and a dividend payout ratio of 9.17%.

Public Sector Pension Investment Board boosted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 3.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 586,732 shares of the utilities provider's stock after buying an additional 19,518 shares during the period. Public Sector Pension Investment Board's holdings in Pacific Gas & Electric were worth $10,080,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in PCG. Eagle Global Advisors LLC boosted its holdings in Pacific Gas & Electric by 9.7% during the first quarter. Eagle Global Advisors LLC now owns 600,767 shares of the utilities provider's stock worth $10,321,000 after purchasing an additional 53,370 shares during the last quarter. AIA Group Ltd purchased a new position in Pacific Gas & Electric during the first quarter worth about $1,009,000. Entropy Technologies LP purchased a new position in Pacific Gas & Electric during the first quarter worth about $2,127,000. Mizuho Markets Americas LLC purchased a new position in Pacific Gas & Electric during the first quarter worth about $3,354,000. Finally, Covestor Ltd boosted its holdings in Pacific Gas & Electric by 30.8% during the first quarter. Covestor Ltd now owns 5,701 shares of the utilities provider's stock worth $98,000 after purchasing an additional 1,344 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Price Performance

NYSE:PCG traded down $0.28 during mid-day trading on Friday, hitting $15.03. 29,242,219 shares of the stock traded hands, compared to its average volume of 26,275,904. The business's 50-day moving average price is $14.10 and its 200 day moving average price is $15.74. The company has a market cap of $40.21 billion, a PE ratio of 13.79, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54. 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.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%. The company had revenue of $5.90 billion during the quarter, compared to analysts' expectations of $6.37 billion. During the same period in the prior year, the firm earned $0.31 EPS. Pacific Gas & Electric's quarterly revenue was down 1.5% on a year-over-year basis. On average, 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 $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 payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Jefferies Financial Group boosted their price target 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. Guggenheim raised their price target on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, April 25th. Wells Fargo & Company restated an "overweight" rating and issued a $24.00 target price on shares of Pacific Gas & Electric in a research note on Friday, April 25th. Barclays reduced 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 research note on Tuesday, July 22nd. Finally, Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $20.55.

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.