HB Wealth Management LLC Sells 4,268 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

HB Wealth Management LLC reduced its holdings in Pacific Gas & Electric Co. (NYSE:PCG) by 15.0% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 24,188 shares of the utilities provider’s stock after selling 4,268 shares during the quarter. HB Wealth Management LLC’s holdings in Pacific Gas & Electric were worth $416,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in PCG. Capital Research Global Investors increased its holdings in shares of Pacific Gas & Electric by 70.3% during the fourth quarter. Capital Research Global Investors now owns 46,805,768 shares of the utilities provider’s stock valued at $944,540,000 after acquiring an additional 19,317,171 shares in the last quarter. Zimmer Partners LP boosted its position in Pacific Gas & Electric by 84.9% in the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider’s stock worth $255,506,000 after purchasing an additional 5,814,624 shares during the last quarter. Zurich Insurance Group Ltd FI boosted its position in Pacific Gas & Electric by 272.5% in the fourth quarter. Zurich Insurance Group Ltd FI now owns 3,560,305 shares of the utilities provider’s stock worth $71,847,000 after purchasing an additional 2,604,445 shares during the last quarter. BROOKFIELD Corp ON raised its stake in shares of Pacific Gas & Electric by 16.2% in the fourth quarter. BROOKFIELD Corp ON now owns 14,692,444 shares of the utilities provider’s stock valued at $296,494,000 after buying an additional 2,049,359 shares during the period. Finally, Adage Capital Partners GP L.L.C. raised its stake in shares of Pacific Gas & Electric by 27.1% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 8,817,600 shares of the utilities provider’s stock valued at $177,939,000 after buying an additional 1,877,800 shares during the period. 78.56% of the stock is currently owned by institutional investors.

Pacific Gas & Electric Trading Up 0.8%

NYSE PCG opened at $14.13 on Friday. Pacific Gas & Electric Co. has a fifty-two week low of $12.97 and a fifty-two week high of $21.72. The stock has a market cap of $37.80 billion, a P/E ratio of 12.96, a price-to-earnings-growth ratio of 1.04 and a beta of 0.55. The stock has a 50 day simple moving average of $14.44 and a two-hundred day simple moving average of $15.85. 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) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.02). Pacific Gas & Electric had a return on equity of 10.26% and a net margin of 9.95%. The firm had revenue of $5.90 billion during the quarter, compared to the consensus estimate of $6.37 billion. During the same period in the prior year, the company posted $0.31 EPS. The firm’s revenue was down 1.5% on a year-over-year basis. On average, analysts forecast 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 disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.025 per share. This represents a $0.10 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric’s dividend payout ratio (DPR) is 9.17%.

Wall Street Analyst Weigh In

Several analysts have issued reports on PCG shares. Evercore ISI boosted their target price on 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. BMO Capital Markets decreased their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an “outperform” rating on the stock in a research note on Monday, April 14th. Argus upgraded Pacific Gas & Electric to a “hold” rating in a report on Monday, June 16th. Barclays cut their price objective on Pacific Gas & Electric from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Tuesday, July 22nd. Finally, Morgan Stanley set a $18.00 target price on Pacific Gas & Electric and gave the company an “underweight” rating in a report on Thursday, May 22nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.