Teachers Retirement System of The State of Kentucky Acquires 33,704 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Teachers Retirement System of The State of Kentucky raised its holdings in shares of Pacific Gas & Electric Co. (NYSE:PCG - Free Report) by 6.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 579,873 shares of the utilities provider's stock after purchasing an additional 33,704 shares during the quarter. Teachers Retirement System of The State of Kentucky's holdings in Pacific Gas & Electric were worth $9,962,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PCG. True Wealth Design LLC lifted its holdings in 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 last quarter. Deseret Mutual Benefit Administrators increased its position in shares of Pacific Gas & Electric by 45.0% in the first quarter. Deseret Mutual Benefit Administrators now owns 2,173 shares of the utilities provider's stock worth $37,000 after purchasing an additional 674 shares during the last quarter. Colonial Trust Co SC increased its position in shares of Pacific Gas & Electric by 563.0% in the fourth quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider's stock worth $39,000 after purchasing an additional 1,627 shares during the last quarter. Larson Financial Group LLC increased its position in shares of Pacific Gas & Electric by 198.1% in the first quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider's stock worth $52,000 after purchasing an additional 2,027 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Pacific Gas & Electric by 124.9% in the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider's stock worth $60,000 after buying an additional 1,927 shares in the last quarter. 78.56% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Pacific Gas & Electric

In related news, EVP Carla J. Peterman sold 32,519 shares of the stock in a transaction that occurred on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president owned 151,116 shares of the company's stock, valued at approximately $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.15% of the company's stock.

Pacific Gas & Electric Stock Up 1.3%

Shares of PCG stock opened at $13.43 on Monday. The stock's 50-day simple moving average is $15.07 and its 200-day simple moving average is $16.13. The company has a debt-to-equity ratio of 1.79, a quick ratio of 0.90 and a current ratio of 0.95. The firm has a market capitalization of $35.93 billion, a PE ratio of 12.32, a P/E/G ratio of 1.00 and a beta of 0.55. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72.

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

Pacific Gas & Electric Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.025 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.10 annualized dividend and a dividend yield of 0.74%. Pacific Gas & Electric's dividend payout ratio is presently 9.17%.

Analysts Set New Price Targets

Several analysts have issued reports on PCG shares. BMO Capital Markets cut their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an "outperform" rating for the company in a research note on Monday, April 14th. Jefferies Financial Group increased their price objective on Pacific Gas & Electric from $20.00 to $22.00 and gave the company a "buy" rating in a research note on Wednesday, April 23rd. Evercore ISI raised their price target on Pacific Gas & Electric from $15.00 to $17.00 and gave the stock an "in-line" rating in a research note on Monday, April 28th. Barclays dropped their price target on Pacific Gas & Electric from $23.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Finally, Guggenheim increased their price objective on Pacific Gas & Electric from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, April 25th. One 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. According to MarketBeat.com, Pacific Gas & Electric currently has an average rating of "Moderate Buy" and a consensus 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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