Resona Asset Management Co. Ltd. Has $13.79 Million Stock Holdings in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Pacific Gas & Electric by 13.1% during the first quarter, holding 803,605 shares valued at approximately $13.8 million.
• Pacific Gas & Electric's recent quarterly earnings missed analysts' expectations, reporting $0.31 EPS against a consensus estimate of $0.33, with a revenue decline of 1.5% year-over-year.
• The company announced a quarterly dividend of $0.025 per share, representing an annualized dividend yield of 0.7%.

Resona Asset Management Co. Ltd. boosted its holdings in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 13.1% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 803,605 shares of the utilities provider's stock after acquiring an additional 93,183 shares during the quarter. Resona Asset Management Co. Ltd.'s holdings in Pacific Gas & Electric were worth $13,788,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PCG. Deseret Mutual Benefit Administrators increased its stake in Pacific Gas & Electric by 45.0% in the 1st quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock valued at $37,000 after buying an additional 674 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Pacific Gas & Electric by 1.9% in the 1st quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after buying an additional 785 shares in the last quarter. Optiver Holding B.V. lifted its holdings in Pacific Gas & Electric by 23.9% in the 4th quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after purchasing an additional 825 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Pacific Gas & Electric by 2.4% in the 1st quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock valued at $664,000 after purchasing an additional 887 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its holdings in shares of Pacific Gas & Electric by 0.5% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider's stock worth $3,237,000 after acquiring an additional 1,010 shares during the period. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG traded down $0.28 during trading hours on Friday, reaching $15.03. The stock had a trading volume of 29,242,219 shares, compared to its average volume of 26,275,904. The business's fifty day moving average is $14.10 and its two-hundred day moving average is $15.74. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market cap of $40.21 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 1.12 and a beta of 0.54. Pacific Gas & Electric Co. has a twelve month low of $12.97 and a twelve month high of $21.72.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share 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 business had revenue of $5.90 billion during the quarter, compared to analyst estimates of $6.37 billion. During the same quarter last year, the business posted $0.31 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 0.7%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric's dividend payout ratio is presently 9.17%.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCG. Mizuho raised their price target on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Argus raised shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Jefferies Financial Group boosted their price target on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a report on Wednesday, April 23rd. Morgan Stanley set a $18.00 price objective on shares of Pacific Gas & Electric and gave the company an "underweight" rating in a research note on Thursday, May 22nd. Finally, Guggenheim boosted 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 report on Friday, April 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Pacific Gas & Electric currently has an average 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.