R Squared Ltd Boosts Stake in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• R Squared Ltd significantly increased its stake in Pacific Gas & Electric Co. by 13,610.5% in the first quarter, resulting in ownership of 26,050 shares valued at approximately $448,000.
• Multiple institutional investors, including Banco Santander S.A. and Bayforest Capital Ltd, also raised their positions in Pacific Gas & Electric, indicating heightened investor interest with 78.56% of stock owned by such entities.
• Pacific Gas & Electric recently announced a $0.025 quarterly dividend, yielding 0.7%, alongside reporting a net margin of 9.95% and a miss in quarterly earnings expectations.

R Squared Ltd boosted its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 13,610.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,050 shares of the utilities provider's stock after buying an additional 25,860 shares during the period. R Squared Ltd's holdings in Pacific Gas & Electric were worth $448,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in PCG. Orion Portfolio Solutions LLC lifted its holdings in Pacific Gas & Electric by 14.5% during the fourth quarter. Orion Portfolio Solutions LLC now owns 16,503 shares of the utilities provider's stock worth $333,000 after acquiring an additional 2,085 shares in the last quarter. Schroder Investment Management Group grew its stake in Pacific Gas & Electric by 1.7% during the fourth quarter. Schroder Investment Management Group now owns 204,525 shares of the utilities provider's stock worth $4,127,000 after purchasing an additional 3,346 shares during the period. CIBC Private Wealth Group LLC increased its position in shares of Pacific Gas & Electric by 28.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 6,969 shares of the utilities provider's stock worth $134,000 after acquiring an additional 1,538 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Pacific Gas & Electric by 18.2% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 74,164 shares of the utilities provider's stock worth $1,497,000 after purchasing an additional 11,411 shares during the period. Finally, Huntington National Bank grew its stake in shares of Pacific Gas & Electric by 24.9% during the 4th quarter. Huntington National Bank now owns 6,036 shares of the utilities provider's stock worth $122,000 after acquiring an additional 1,205 shares during the period. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Trading Up 6.7%

NYSE PCG traded up $0.94 during trading hours on Monday, reaching $15.06. The company's stock had a trading volume of 52,246,839 shares, compared to its average volume of 24,278,308. The firm has a fifty day simple moving average of $14.34 and a 200-day simple moving average of $15.81. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. Pacific Gas & Electric Co. has a 52 week low of $12.97 and a 52 week high of $21.72. The stock has a market cap of $40.29 billion, a P/E ratio of 13.82, a P/E/G ratio of 1.05 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.33 by ($0.02). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The company had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. During the same quarter in the previous year, the firm posted $0.31 earnings per share. The business's revenue for the quarter was down 1.5% compared to the same quarter last year. Equities analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The business also recently announced 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 yield of 0.7%. Pacific Gas & Electric's payout ratio is 9.17%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PCG shares. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Wells Fargo & Company restated an "overweight" rating and issued a $24.00 price target on shares of Pacific Gas & Electric in a research note on Friday, April 25th. Evercore ISI lifted their price objective on shares of 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. Guggenheim upped their target price on Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. Finally, Mizuho raised their price objective on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target 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.