Sumitomo Mitsui Trust Group Inc. Purchases 408,080 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 7.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,688,828 shares of the utilities provider's stock after acquiring an additional 408,080 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.21% of Pacific Gas & Electric worth $97,734,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Level Four Advisory Services LLC raised its stake in Pacific Gas & Electric by 7.5% during the 4th quarter. Level Four Advisory Services LLC now owns 11,066 shares of the utilities provider's stock worth $223,000 after acquiring an additional 772 shares during the period. Farther Finance Advisors LLC raised its stake in Pacific Gas & Electric by 1.9% during the 1st quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider's stock worth $738,000 after acquiring an additional 785 shares during the period. Optiver Holding B.V. raised its position in shares of Pacific Gas & Electric by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider's stock valued at $86,000 after buying an additional 825 shares during the last quarter. Parallel Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 2.4% in the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider's stock worth $664,000 after buying an additional 887 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Pacific Gas & Electric by 14.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 7,971 shares of the utilities provider's stock worth $161,000 after buying an additional 996 shares in the last quarter. Institutional investors own 78.56% of the company's stock.

Pacific Gas & Electric Trading Down 0.7%

Shares of PCG opened at $13.98 on Monday. The company's fifty day moving average is $16.13 and its 200 day moving average is $16.79. Pacific Gas & Electric Co. has a fifty-two week low of $13.34 and a fifty-two week high of $21.72. The stock has a market capitalization of $37.39 billion, a PE ratio of 12.82, a P/E/G ratio of 0.99 and a beta of 0.60. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 earnings per share for the quarter, missing the consensus estimate of $0.35 by ($0.02). Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The business had revenue of $5.98 billion during the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter in the prior year, the firm posted $0.37 EPS. The company's revenue for the quarter was up 2.1% on a year-over-year basis. Sell-side analysts expect that Pacific Gas & Electric Co. will post 1.49 earnings per share for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric's dividend payout ratio (DPR) is 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 business's 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 transaction, the executive vice president now owns 151,116 shares in the company, valued at $2,614,306.80. The trade was a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.15% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on PCG. Evercore ISI raised their target price on shares of Pacific Gas & Electric from $15.00 to $17.00 and gave the company an "in-line" rating in a research note on Monday, April 28th. Argus upgraded shares of Pacific Gas & Electric to a "hold" rating in a report on Monday, June 16th. Mizuho lifted 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. BMO Capital Markets reduced 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 report on Monday, April 14th. Finally, Guggenheim lifted their price target on shares of Pacific Gas & Electric from $16.00 to $17.00 and gave the company a "neutral" rating in a 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 assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Pacific Gas & Electric has an average rating of "Moderate Buy" and an average target price of $20.73.

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.

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