Envestnet Portfolio Solutions Inc. Sells 41,349 Shares of Pacific Gas & Electric Co. (NYSE:PCG)

Envestnet Portfolio Solutions Inc. lowered its position in Pacific Gas & Electric Co. (NYSE:PCG) by 69.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 18,253 shares of the utilities provider’s stock after selling 41,349 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Pacific Gas & Electric were worth $314,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. True Wealth Design LLC boosted its holdings in Pacific Gas & Electric by 1,233.6% in the fourth quarter. True Wealth Design LLC now owns 1,827 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 1,690 shares in the last quarter. Colonial Trust Co SC lifted its holdings in shares of Pacific Gas & Electric by 563.0% in the fourth 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. Versant Capital Management Inc lifted its holdings in shares of Pacific Gas & Electric by 124.9% in the first quarter. Versant Capital Management Inc now owns 3,470 shares of the utilities provider’s stock valued at $60,000 after purchasing an additional 1,927 shares in the last quarter. Optiver Holding B.V. lifted its holdings in shares of Pacific Gas & Electric by 23.9% in 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 in the last quarter. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Pacific Gas & Electric by 30.2% in the first quarter. MassMutual Private Wealth & Trust FSB now owns 5,183 shares of the utilities provider’s stock valued at $89,000 after purchasing an additional 1,203 shares in the last quarter. Institutional investors own 78.56% of the company’s stock.

Pacific Gas & Electric Stock Performance

Shares of Pacific Gas & Electric stock opened at $13.98 on Friday. The business’s fifty day simple moving average is $16.13 and its 200 day simple moving average is $16.81. The firm has a market capitalization of $37.39 billion, a P/E ratio of 12.82, a price-to-earnings-growth ratio of 0.99 and a beta of 0.60. Pacific Gas & Electric Co. has a 12 month low of $13.34 and a 12 month high of $21.72. 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 (NYSE:PCG) last issued its quarterly earnings results on Thursday, April 24th. The utilities provider reported $0.33 EPS for the quarter, missing analysts’ consensus estimates of $0.35 by ($0.02). Pacific Gas & Electric had a return on equity of 10.35% and a net margin of 9.81%. The business had revenue of $5.98 billion for the quarter, compared to the consensus estimate of $6.23 billion. During the same quarter last year, the business posted $0.37 earnings per share. The business’s revenue was up 2.1% compared to the same quarter last year. As a group, analysts anticipate that Pacific Gas & Electric Co. will post 1.49 EPS for the current year.

Pacific Gas & Electric Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.025 dividend. This represents a $0.10 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Monday, June 30th. Pacific Gas & Electric’s dividend payout ratio is currently 9.17%.

Insiders Place Their Bets

In other Pacific Gas & Electric news, EVP Carla J. Peterman sold 32,519 shares of the firm’s stock in a transaction on Tuesday, April 29th. The stock was sold at an average price of $17.30, for a total value of $562,578.70. Following the completion of the sale, the executive vice president now directly owns 151,116 shares of the company’s stock, valued at $2,614,306.80. This trade represents a 17.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. BMO Capital Markets dropped their target price on Pacific Gas & Electric from $23.00 to $22.00 and set an “outperform” rating on the stock in a report on Monday, April 14th. 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. Argus upgraded Pacific Gas & Electric to a “hold” rating in a report on Monday, June 16th. Wells Fargo & Company restated an “overweight” rating and issued a $24.00 target price on shares of Pacific Gas & Electric in a report on Friday, April 25th. Finally, Mizuho raised their target price on Pacific Gas & Electric from $20.00 to $21.00 and gave the company an “outperform” rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $20.73.

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.