TD Asset Management Inc Buys 24,096 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

TD Asset Management Inc lifted its position in Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 2.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 873,035 shares of the utilities provider's stock after purchasing an additional 24,096 shares during the quarter. TD Asset Management Inc's holdings in Pacific Gas & Electric were worth $14,999,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PCG. True Wealth Design LLC boosted its stake in shares of Pacific Gas & Electric by 1,233.6% during the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider's stock valued at $37,000 after purchasing an additional 1,690 shares during the period. Deseret Mutual Benefit Administrators boosted its position in Pacific Gas & Electric by 45.0% during 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. Colonial Trust Co SC grew its holdings in Pacific Gas & Electric by 563.0% in the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after acquiring an additional 1,627 shares during the last quarter. Larson Financial Group LLC grew its holdings in Pacific Gas & Electric by 198.1% in the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after acquiring an additional 2,027 shares during the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Pacific Gas & Electric by 124.9% during the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock valued at $60,000 after acquiring an additional 1,927 shares during the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on PCG. BMO Capital Markets reduced their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating on the stock in a report on Monday, April 14th. Jefferies Financial Group boosted their price objective on shares of Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a research report on Wednesday, April 23rd. Evercore ISI lifted 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 raised shares of Pacific Gas & Electric to a "hold" rating in a research note on Monday, June 16th. Finally, Morgan Stanley set a $18.00 price objective on Pacific Gas & Electric and gave the company an "underweight" rating in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $20.55.

Pacific Gas & Electric Stock Up 0.8%

PCG stock traded up $0.11 during trading on Friday, hitting $14.13. 27,502,809 shares of the stock traded hands, compared to its average volume of 22,902,908. 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 stock has a market cap of $37.80 billion, a price-to-earnings ratio of 12.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.54. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72. The firm's 50 day moving average is $14.44 and its two-hundred day moving average is $15.85.

Pacific Gas & Electric (NYSE:PCG - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.33 by ($0.02). The firm had revenue of $5.90 billion for the quarter, compared to the consensus estimate of $6.37 billion. Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.26%. Pacific Gas & Electric's revenue was down 1.5% on a year-over-year basis. During the same period last year, the business earned $0.31 EPS. On average, sell-side analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.025 per share. The ex-dividend date was Monday, June 30th. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. Pacific Gas & Electric's 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.