Pacific Gas & Electric Co. (NYSE:PCG) Stock Position Increased by Covestor Ltd

Covestor Ltd lifted its position in Pacific Gas & Electric Co. (NYSE:PCG) by 30.8% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,701 shares of the utilities provider’s stock after buying an additional 1,344 shares during the period. Covestor Ltd’s holdings in Pacific Gas & Electric were worth $98,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCG. Envestnet Asset Management Inc. grew its holdings in shares of Pacific Gas & Electric by 93.4% in the 4th quarter. Envestnet Asset Management Inc. now owns 1,191,123 shares of the utilities provider’s stock worth $24,037,000 after acquiring an additional 575,365 shares during the last quarter. Federated Hermes Inc. grew its holdings in shares of Pacific Gas & Electric by 160.8% in the 4th quarter. Federated Hermes Inc. now owns 10,932 shares of the utilities provider’s stock worth $221,000 after acquiring an additional 6,740 shares during the last quarter. Raymond James Financial Inc. acquired a new position in shares of Pacific Gas & Electric in the 4th quarter worth $24,770,000. Sterling Capital Management LLC grew its holdings in shares of Pacific Gas & Electric by 55.2% in the 4th quarter. Sterling Capital Management LLC now owns 127,548 shares of the utilities provider’s stock worth $2,574,000 after acquiring an additional 45,389 shares during the last quarter. Finally, Cohen & Steers Inc. grew its holdings in shares of Pacific Gas & Electric by 5.5% in the 4th quarter. Cohen & Steers Inc. now owns 9,395,173 shares of the utilities provider’s stock worth $189,595,000 after acquiring an additional 493,264 shares during the last quarter. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Performance

Shares of NYSE PCG opened at $15.14 on Tuesday. The business’s 50-day moving average price is $14.16 and its two-hundred 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. Pacific Gas & Electric Co. has a one year low of $12.97 and a one year high of $21.72. The company has a market capitalization of $40.52 billion, a P/E 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 issued its earnings results on Thursday, July 31st. The utilities provider reported $0.31 EPS for the quarter, missing analysts’ consensus estimates of $0.33 by ($0.02). Pacific Gas & Electric had a net margin of 9.95% and a return on equity of 10.13%. The firm had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.37 billion. During the same quarter last year, the firm earned $0.31 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. Analysts anticipate 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 announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.025 dividend. 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 9.17%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Mizuho lifted their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the stock an “outperform” rating in a report on Monday, May 19th. Barclays decreased their target price on Pacific Gas & Electric from $22.00 to $20.00 and set an “overweight” rating on the stock in a report on Tuesday, July 22nd. Morgan Stanley set a $18.00 target price on Pacific Gas & Electric and gave the stock an “underweight” rating in a report on Thursday, May 22nd. Guggenheim lifted their price target on Pacific Gas & Electric from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Friday, April 25th. Finally, Wells Fargo & Company reiterated an “overweight” rating and set a $24.00 price target on shares of Pacific Gas & Electric in a report on Friday, April 25th. One 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, the company has a consensus rating of “Moderate Buy” and an average target price of $20.55.

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.