Pacific Gas & Electric Co. (NYSE:PCG) Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. trimmed its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 48.3% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 94,051 shares of the utilities provider's stock after selling 87,983 shares during the period. QRG Capital Management Inc.'s holdings in Pacific Gas & Electric were worth $1,616,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. True Wealth Design LLC grew its position in 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 worth $37,000 after acquiring an additional 1,690 shares during the period. Colonial Trust Co SC grew its position in 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 acquiring an additional 1,627 shares during the period. Versant Capital Management Inc grew its position in 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 acquiring an additional 1,927 shares during the period. Optiver Holding B.V. grew its position in Pacific Gas & Electric by 23.9% in the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock worth $86,000 after acquiring an additional 825 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its position in Pacific Gas & Electric by 30.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider's stock worth $89,000 after acquiring an additional 1,203 shares during the period. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

Pacific Gas & Electric Stock Down 1.5%

Shares of NYSE PCG traded down $0.22 during mid-day trading on Friday, hitting $13.86. The company had a trading volume of 42,952,922 shares, compared to its average volume of 17,972,379. The company has a market capitalization of $37.07 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.90. Pacific Gas & Electric Co. has a 1-year low of $13.34 and a 1-year high of $21.72. The business's 50-day simple moving average is $16.45 and its 200 day simple moving average is $17.05.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings data on Thursday, April 24th. The utilities provider reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The firm's revenue was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 earnings per share. On average, analysts predict that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current 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 0.72%. The ex-dividend date of this dividend is Monday, June 30th. Pacific Gas & Electric's dividend payout ratio is presently 9.17%.

Insider Buying and Selling at Pacific Gas & Electric

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the firm's stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the sale, the executive vice president now directly owns 151,116 shares in the company, 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.14% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PCG shares. Evercore ISI raised their price target on 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. BMO Capital Markets lowered their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a research report on Monday, April 14th. Argus upgraded Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. Mizuho raised their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the stock an "underweight" rating in a research report on Thursday, May 22nd. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the company's stock. According to MarketBeat.com, Pacific Gas & Electric currently has an average rating of "Moderate Buy" and an average target price of $20.73.

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.