58,738 Shares in Pacific Gas & Electric Co. (NYSE:PCG) Acquired by AIA Group Ltd

AIA Group Ltd bought a new stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 58,738 shares of the utilities provider’s stock, valued at approximately $1,009,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Costello Asset Management INC bought a new stake in Pacific Gas & Electric during the 1st quarter valued at $31,000. True Wealth Design LLC raised its position in Pacific Gas & Electric by 1,233.6% during the 4th 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 in the last quarter. Colonial Trust Co SC raised its position in Pacific Gas & Electric by 563.0% during the 4th quarter. Colonial Trust Co SC now owns 1,916 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 1,627 shares in the last quarter. Deseret Mutual Benefit Administrators raised 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 purchasing an additional 674 shares in the last quarter. Finally, Larson Financial Group LLC raised its position in Pacific Gas & Electric by 198.1% during the 1st quarter. Larson Financial Group LLC now owns 3,050 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 2,027 shares in the last quarter. 78.56% of the stock is owned by institutional investors.

Pacific Gas & Electric Stock Up 1.0%

Shares of PCG stock opened at $15.14 on Tuesday. Pacific Gas & Electric Co. has a 1-year low of $12.97 and a 1-year high of $21.72. The stock’s fifty day moving average price is $14.16 and its 200 day moving average price is $15.75. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.94 and a quick ratio of 0.89. The company has a market cap of $40.52 billion, a price-to-earnings ratio of 13.89, a price-to-earnings-growth ratio of 1.12 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG) last announced its 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 business had revenue of $5.90 billion for the quarter, compared to analysts’ expectations of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.13% and a net margin of 9.95%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.31 earnings per share. On average, research 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 declared 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. This represents a $0.10 annualized dividend and a yield of 0.7%. The ex-dividend date was Monday, June 30th. Pacific Gas & Electric’s payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

PCG has been the subject of several recent research reports. Guggenheim boosted their price target 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. Barclays reduced their price target 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. Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the stock an “underweight” rating in a research report on Thursday, May 22nd. Wells Fargo & Company reissued an “overweight” rating and issued a $24.00 price target on shares of Pacific Gas & Electric in a research report on Friday, April 25th. Finally, Argus raised Pacific Gas & Electric to a “hold” rating in a research report on Monday, June 16th. One equities 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 stock. According to data from MarketBeat, Pacific Gas & Electric presently has a consensus rating of “Moderate Buy” and an average price target of $20.55.

Pacific Gas & Electric 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.