Stevens Capital Management LP Has $706,000 Holdings in Pacific Gas & Electric Co. (NYSE:PCG)

Key Points

• Stevens Capital Management LP increased its holdings in Pacific Gas & Electric Co. by 217.6%, acquiring an additional 28,174 shares during the first quarter, bringing their total to 41,121 shares valued at $706,000.
• Several institutional investors have also modified their positions, with Geode Capital Management and Capital Research Global Investors increasing their stakes significantly, leading to over 78.56% of the stock being owned by institutional investors.
• Pacific Gas & Electric Co. recently declared a quarterly dividend of $0.025 per share, with a dividend yield of 0.72% and a payout ratio of 9.17%.

Stevens Capital Management LP raised its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 217.6% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 41,121 shares of the utilities provider's stock after buying an additional 28,174 shares during the quarter. Stevens Capital Management LP's holdings in Pacific Gas & Electric were worth $706,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assetmark Inc. grew its holdings in shares of Pacific Gas & Electric by 33.1% during the 1st quarter. Assetmark Inc. now owns 122,313 shares of the utilities provider's stock worth $2,101,000 after purchasing an additional 30,438 shares in the last quarter. First Pacific Advisors LP grew its holdings in shares of Pacific Gas & Electric by 0.8% during the 1st quarter. First Pacific Advisors LP now owns 1,089,398 shares of the utilities provider's stock worth $18,716,000 after purchasing an additional 8,971 shares in the last quarter. Readystate Asset Management LP acquired a new stake in shares of Pacific Gas & Electric during the 1st quarter worth $1,495,000. KLP Kapitalforvaltning AS grew its holdings in shares of Pacific Gas & Electric by 1.0% during the 1st quarter. KLP Kapitalforvaltning AS now owns 1,683,600 shares of the utilities provider's stock worth $28,960,000 after purchasing an additional 16,900 shares in the last quarter. Finally, HighPoint Advisor Group LLC acquired a new stake in shares of Pacific Gas & Electric during the 1st quarter worth $768,000. 78.56% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent analyst reports. BMO Capital Markets dropped their price objective 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. Wells Fargo & Company restated an "overweight" rating and set a $24.00 price objective on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Barclays dropped their price objective on Pacific Gas & Electric from $22.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, July 22nd. Mizuho upped their price objective 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, Guggenheim upped their price objective on 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 equities research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Pacific Gas & Electric presently has a consensus rating of "Moderate Buy" and a consensus target price of $20.55.

Pacific Gas & Electric Trading Down 0.3%

NYSE PCG traded down $0.05 during trading hours on Tuesday, hitting $13.94. 8,695,844 shares of the company's stock were exchanged, compared to its average volume of 23,007,563. The stock has a 50-day simple moving average of $14.64 and a 200 day simple moving average of $15.89. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The firm has a market cap of $37.28 billion, a price-to-earnings ratio of 12.79, a PEG ratio of 1.05 and a beta of 0.55. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79.

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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 annualized dividend and a yield of 0.72%. Pacific Gas & Electric's dividend payout ratio is currently 9.17%.

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.