Pacific Gas & Electric Co. (NYSE:PCG) Shares Purchased by LPL Financial LLC

LPL Financial LLC raised its stake in shares of Pacific Gas & Electric Co. (NYSE:PCG) by 26.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,622,295 shares of the utilities provider’s stock after buying an additional 549,192 shares during the period. LPL Financial LLC’s holdings in Pacific Gas & Electric were worth $45,051,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of PCG. Deseret Mutual Benefit Administrators boosted its position in shares of 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. Farther Finance Advisors LLC lifted its stake in Pacific Gas & Electric by 1.9% during the first quarter. Farther Finance Advisors LLC now owns 42,747 shares of the utilities provider’s stock valued at $738,000 after purchasing an additional 785 shares during the last quarter. Optiver Holding B.V. lifted its stake in Pacific Gas & Electric by 23.9% during the fourth quarter. Optiver Holding B.V. now owns 4,271 shares of the utilities provider’s stock valued at $86,000 after purchasing an additional 825 shares during the last quarter. Parallel Advisors LLC lifted its stake in Pacific Gas & Electric by 2.4% during the first quarter. Parallel Advisors LLC now owns 38,625 shares of the utilities provider’s stock valued at $664,000 after purchasing an additional 887 shares during the last quarter. Finally, Oregon Public Employees Retirement Fund lifted its stake in Pacific Gas & Electric by 0.5% during the first quarter. Oregon Public Employees Retirement Fund now owns 188,411 shares of the utilities provider’s stock valued at $3,237,000 after purchasing an additional 1,010 shares during the last quarter. Institutional investors and hedge funds own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Up 0.8%

Shares of Pacific Gas & Electric stock opened at $14.13 on Friday. The stock has a 50-day moving average price of $14.44 and a 200 day moving average price of $15.85. The company has a market cap of $37.80 billion, a P/E ratio of 12.96, a P/E/G ratio of 1.04 and a beta of 0.55. The company has a current ratio of 0.95, a quick ratio of 0.90 and a debt-to-equity ratio of 1.79. Pacific Gas & Electric Co. has a 1 year low of $12.97 and a 1 year high of $21.72.

Pacific Gas & Electric (NYSE:PCG) last announced its quarterly earnings data 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). The business had revenue of $5.90 billion during the quarter, compared to analysts’ expectations of $6.37 billion. Pacific Gas & Electric had a return on equity of 10.26% and a net margin of 9.95%. The firm’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.31 earnings per share. As a group, analysts expect that Pacific Gas & Electric Co. will post 1.49 EPS for the current fiscal year.

Pacific Gas & Electric Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend was Monday, June 30th. Pacific Gas & Electric’s dividend payout ratio is currently 9.17%.

Wall Street Analyst Weigh In

Several analysts recently commented on PCG shares. Argus raised shares of Pacific Gas & Electric to a “hold” rating in a research note on Monday, June 16th. Mizuho increased their target price on shares of Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “outperform” rating in a research note on Monday, May 19th. Evercore ISI lifted 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. Jefferies Financial Group lifted their price target on Pacific Gas & Electric from $20.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, April 23rd. Finally, Morgan Stanley set a $18.00 price target on Pacific Gas & Electric and gave the stock an “underweight” rating in a research note on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given 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.

About Pacific Gas & Electric

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.