Public Sector Pension Investment Board Has $10.08 Million Stock Position in Pacific Gas & Electric Co. (NYSE:PCG)

Public Sector Pension Investment Board lifted its position in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 3.4% in the first quarter, Holdings Channel reports. The institutional investor owned 586,732 shares of the utilities provider’s stock after acquiring an additional 19,518 shares during the period. Public Sector Pension Investment Board’s holdings in Pacific Gas & Electric were worth $10,080,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of PCG. Capital Research Global Investors lifted 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 worth $944,540,000 after buying an additional 19,317,171 shares in the last quarter. Zimmer Partners LP lifted its holdings in shares of Pacific Gas & Electric by 84.9% during the fourth quarter. Zimmer Partners LP now owns 12,661,324 shares of the utilities provider’s stock worth $255,506,000 after buying an additional 5,814,624 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Pacific Gas & Electric by 1.2% during the first quarter. Vanguard Group Inc. now owns 257,285,352 shares of the utilities provider’s stock worth $4,420,162,000 after buying an additional 2,926,384 shares in the last quarter. Zurich Insurance Group Ltd FI raised its stake 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 valued at $71,847,000 after purchasing an additional 2,604,445 shares in the last quarter. Finally, BROOKFIELD Corp ON raised its stake in 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 purchasing an additional 2,049,359 shares in the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on PCG shares. Jefferies Financial Group boosted their price target 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. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $24.00 price target on shares of Pacific Gas & Electric in a research note on Friday, April 25th. Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the company an “underweight” rating in a research note on Thursday, May 22nd. Mizuho boosted their price target on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Finally, Evercore ISI boosted their price target 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. One research analyst has rated the stock with a sell rating, four have given a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Pacific Gas & Electric presently has an average rating of “Moderate Buy” and a consensus target price of $20.55.

Pacific Gas & Electric Stock Performance

Pacific Gas & Electric stock opened at $15.27 on Thursday. Pacific Gas & Electric Co. has a 12-month low of $12.97 and a 12-month high of $21.72. The company has a quick ratio of 0.89, a current ratio of 0.94 and a debt-to-equity ratio of 1.81. The business’s 50-day moving average price is $14.12 and its two-hundred day moving average price is $15.75. The stock has a market cap of $40.86 billion, a PE ratio of 14.01, a P/E/G ratio of 1.15 and a beta of 0.54.

Pacific Gas & Electric (NYSE:PCG) last released 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 return on equity of 10.13% and a net margin of 9.95%. The business’s revenue for the quarter was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.31 earnings per share. As a group, 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. Stockholders of record on Monday, June 30th were issued a dividend of $0.025 per share. This represents a $0.10 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Monday, June 30th. Pacific Gas & Electric’s payout ratio is 9.17%.

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.