Sumitomo Mitsui DS Asset Management Company Ltd Acquires 28,122 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 11.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 271,657 shares of the utilities provider's stock after acquiring an additional 28,122 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Pacific Gas & Electric were worth $4,667,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Pacific Gas & Electric in the 4th quarter valued at about $591,625,000. Capital Research Global Investors grew its holdings in Pacific Gas & Electric by 70.3% in the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider's stock worth $944,540,000 after purchasing an additional 19,317,171 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Pacific Gas & Electric by 2.5% during the fourth quarter. Vanguard Group Inc. now owns 254,358,968 shares of the utilities provider's stock worth $5,132,964,000 after purchasing an additional 6,151,233 shares in the last quarter. Zimmer Partners LP lifted its holdings in shares of Pacific Gas & Electric by 84.9% during the 4th quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider's stock valued at $255,506,000 after purchasing an additional 5,814,624 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its holdings in shares of Pacific Gas & Electric by 244.5% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 4,706,647 shares of the utilities provider's stock valued at $95,066,000 after purchasing an additional 3,340,599 shares during the last quarter. 78.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PCG shares. Jefferies Financial Group upped their target price on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Barclays dropped their target price on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. BMO Capital Markets cut their price target on shares of Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating on the stock in a research note on Monday, April 14th. Morgan Stanley set a $18.00 price objective on shares of Pacific Gas & Electric and gave the stock an "underweight" rating in a research note on Thursday, May 22nd. Finally, Argus raised Pacific Gas & Electric to a "hold" rating in a research report on Monday, June 16th. One 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 data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $20.73.

Insider Buying and Selling at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction on Tuesday, April 29th. The shares were sold at an average price of $17.30, for a total transaction of $562,578.70. Following the sale, the executive vice president directly owned 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This represents a 17.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.14% of the stock is currently owned by company insiders.

Pacific Gas & Electric Trading Down 1.1%

NYSE PCG opened at $13.98 on Thursday. Pacific Gas & Electric Co. has a 1 year low of $13.34 and a 1 year high of $21.72. The company has a debt-to-equity ratio of 1.79, a current ratio of 0.95 and a quick ratio of 0.90. The company has a market capitalization of $37.40 billion, a PE ratio of 12.83, a P/E/G ratio of 1.00 and a beta of 0.55. The company has a fifty day moving average of $15.93 and a 200 day moving average of $16.71.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last issued 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). Pacific Gas & Electric had a net margin of 9.81% and a return on equity of 10.35%. The company had revenue of $5.98 billion during the quarter, compared to analyst estimates of $6.23 billion. During the same period last year, the firm earned $0.37 EPS. The business's quarterly revenue was up 2.1% compared to the same quarter last year. Research analysts forecast that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.025 per share. The ex-dividend date is Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.72%. Pacific Gas & Electric's payout ratio is 9.17%.

Pacific Gas & Electric Company 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.

Want to see what other hedge funds are holding PCG? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Pacific Gas & Electric Co. (NYSE:PCG - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.